The potential takeover of Time Warner Cable (TWC) has taken on a new dimension, Fierce Cable reports, with executives at Comcast and Charter Communications believed to be keen to carve up the cableco’s assets on a geographic basis. Following preliminary talks by the trio, it has been suggested that Comcast could expand its existing cable system clusters in Florida, New York and Texas, while Charter could create efficiencies in terms of marketing, sales and operations in areas where it operates near TWC systems – including Los Angeles and the Carolinas.
The website notes that news of a possible joint bid from Comcast and Charter has drawn comparisons to a deal that Comcast and TWC struck in July 2006 to acquire nearly all of the cable systems that were owned by bankrupt operator Adelphia Communications. In addition to splitting up Adelphia systems in New York, Massachusetts and several other states, TWC and Comcast agreed to swap several cable systems with one another. Through the transactions TWC gained an additional 3.3 million customers, while Comcast picked up 1.7 million subscribers. The architect of that deal on the TWC side was Rob Marcus, who is poised to take over the company as CEO after Glenn Britt retires.