Cable-TV Bosses Dance Around Merger Talks

Time Warner Cable’s incoming Chief Executive Rob Marcus said there are "clearly" programming cost and other benefits to cable industry consolidation, but indicated Time Warner Cable doesn't want to overburden its balance sheet with debt.

He also said that "whether or not Time Warner Cable will participate" in any merger deals as a buyer or seller "is 100% driven by what's in the best interest of our shareholders." He added that his management team is "completely focused on running Time Warner Cable for the long haul." Charter Communications, backed by Liberty Media, has made two offers for the company over the past few months, both rejected, people familiar with the matter have said. Meanwhile Comcast and Cox Communications are both contemplating making bids. Marcus that cable mergers could generate synergies in programming costs, elimination of overhead and consolidation of infrastructure. Combining with Charter would likely require taking on a lot of extra debt to help fund the transaction.