The wheels have begun to turn on what could become another big merger for the cable industry. The New York Post reports that cable giant Charter Communications, which already owns Spectrum — formerly Time Warner Cable — is looking into acquiring Atlanta-based Cox Communications.
“Charter Chief Executive Tom Rutledge is eyeing family-owned Cox despite the fact that the latter has repeatedly rejected overtures from larger rivals, industry insiders say,” The Post reports.
The report quotes one source saying: “If they’re going to sell it to anyone, they’re going to sell it to an old cable guy,” meaning Rutledge.
“Rutledge is a former chief operating officer at Cablevision, which was acquired for $17.7 billion from the Dolan family last year by French-based Altice NV, which has also acquired Suddenlink,” The Post notes.
Cox is the third-largest U.S. cable company, with 6.2 million customers.
Charter wasn’t commenting, and Cox downplayed talk of a possible sale. The report quotes Cox spokesman Todd Smith saying Wednesday: “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.”