After being usurped by Comcast to acquire all of Time Warner Cable, Charter Communications managed to save face by inking a deal to buy and swap some cable systems with Comcast in a complex, three-step, roughly $20 billion deal. As a result, Charter, whose biggest shareholder is cable industry pioneer John Malone, will become the second-largest cable distributor in the country, trailing only the combined Comcast-Time Warner Cable.
Cable company Charter Communications, in which John Malone’s Liberty Media holds a 27% stake, made an unsolicited $61.3 billion bid for larger rival Time Warner Cable. The move marked the beginning of what is expected to be a protracted battle that could reshape the nation’s cable landscape.
Comcast’s Roberts family and John Malone’s Liberty Media have both reshaped and risen to the top of the cable television industry through dealmaking. h/t @qz.
Journalists, bankers, and lawyers certainly hope so. PWC says they’re up 9% so far this year.
Janet Yellen made history this week by becoming the first woman to be nominated to chair the Federal Reserve.