Privately held Cox Communications has stepped “into the...
Privately held Cox Communications has stepped “into the ring” of cable consolidation, an analyst wrote investors Friday. Craig Moffett of Moffett Research cited a Bloomberg News report that day that Cox and Charter Communications have talked about a potential combination…
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(http://bloom.bg/145wGus). Spokespeople for the two operators declined to comment to us. “A Cox deal, if available, makes a ton of sense for Charter,” wrote Moffett. “Cox could be a much more attractive partner for Charter than TWC would have been, at least as a first step,” he wrote of Time Warner Cable, a rumored target for the smaller Charter (CD July 1 p19). With 4 million to 5 million video subscribers each, Cox and Charter are close in size, wrote the analyst. “Nosebleed leverage wouldn’t be necessary; a merger of equals would leave balance sheet room for subsequent deals, while still giving Charter the benefit of a doubling of scale.” Charter stock closed up 4.7 percent Friday at $134.