Charter Communications Inc. (CHTR) Chief Executive Tom Rutledge
said Tuesday that the cable operator doesn't need any acquisitions
to be a successful company, despite recent reports that it is
pursuing Time Warner Cable Inc. (TWC).
Responding to a query on CNBC about how "hypotheticals" for a
deal for Time Warner Cable might play out, he said: "I think any of
the hypotheticals are possible. It's obviously a very frothy
experience at the moment as you've seen."
He added, "Charter doesn't need any acquisitions to be a
successful company. ... We can grow this company pretty much
anywhere where it's under penetrated because of the assets that
cable has."
Charter, which is backed by Liberty Media Corp., has been
courting Time Warner Cable's management for months but has been
rebuffed. Still, it is laying the groundwork for a deal by
arranging about $25 billion in debt financing, according to people
familiar with the matter.
Charter could be battling other suitors, including Cox
Communications Inc. and Comcast Corp. (CMCSA), both of which are
considering whether to make bids for Time Warner Cable.
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