Known as "The King of Cable" after he built a small Denver cable company into the nation's largest system in the 1980s, John Malone aims to become the king of consolidation in the same industry once again.Charter Communications, in which Malone's Liberty Media holds a 27 percent stake, offered on Monday to pay $37.3 billion in cash and Charter stock to purchase Time Warner Cable, merging the fourth-largest U.S. cable company with the second-largest and likely setting off more combinations within the $98 billion cable industry.Time Warner Cable's board rejected the offer. If the two sides can work out a deal, the merged companies would provide service to around 16 million video subscribers, second only to Comcast, which has 22 million subscribers, and satellite provider DirecTV with 20 million.Combining the two companies would serve large clusters of subscribers in New York, Texas and California, where they both have operations. That would give Charter more size to undercut telecom companies in the lucrative data service market.
Time Warner Cable Inc. (TWC) is a provider of video, high-speed data and voice services in the United States with systems located in five geographic areas: New York State, the Carolinas, Ohio, Southern California and Texas. Shares of TWC fell by 0.72% or $-0.96/share to $132.40. In the past year, the shares have traded as low as $84.57 and as high as $139.85. On average, 2528440 shares of TWC exchange hands on a given day and today's volume is recorded at 3110288.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 1.09% or $-0.72/share to $65.47. In the past year, the shares have traded as low as $48.84 and as high as $70.77. On average, 4284900 shares of TWX exchange hands on a given day and today's volume is recorded at 5632201.
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