Thursday, January 21, 2021

CHARTER COMMUNICATIONS BLASTS TIME WARNER CABLE

January 15, 2014 by · Leave a Comment 

Charter Communications COO John Bickham, in a conference call on Tuesday, castigated the operations and operators of Time Warner Cable, the company Charter is attempting to acquire. Bickham criticized what he claimed was TWC’s slow Internet speeds, substandard video packages, and horrible customer service. TWC has rejected Charter’s offer of more than $60 billion to buy it. That works out to about $132.40 a share, about what the stock is worth now, a figure that TWC has called “grossly inadequate.” However, as Dave Novosel, an analyst with Gimme Credit wrote in a report (and cited in today’s Los Angeles Times), “Charter rightly claims that a takeover premium is already built into the stock price,” Dave Novosel, analyst with the firm Gimme Credit, wrote in a report. “The stock is up roughly 40% since last summer, and given the steady loss of video subscribers at Time Warner Cable, the price is not up because of its financial performance.”