- Fresh from swallowing Time Warner Cable and Bright House, Charter (CHTR +0.9%) is now linked to chatter about another mega-buyout: of rival Cox Communications.
- "Tom wants to buy Cox," a source tells the New York Post about Charter chief Tom Rutledge.
- Privately owned Cox is the country's third-largest cable company, behind Comcast and Charter, with 6.2M customers; it's spurned other purchase overtures to date.
- “Cox has been very clear and consistent that we are not for sale and, in fact, we’re aggressively investing in our network, products and strategic partnerships and investments of our own,” says Cox's Todd Smith.
- But if Cox has a change of heart, it would likely see interest not only from Charter but from Comcast (CMCSA -0.1%) and Verizon (VZ +0.3%), not to mention Altice (OTCPK:ATCEY), which has freshly launched an IPO of its USA operation (ATUS +5.4%).
- Buying TWC and Bright House cost Charter $67.1B.
- Now read: Verizon Communications: Cheap For A Reason
Original article