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Time Warner Cable Inc. (TWC)

  • Feb. 12, 2014, 10:38 PM
    • Comcast (CMCSA) agrees to pay $159 a share to purchase Time Warner Cable (TWC), sources tell Bloomberg.
    • The deal price is only a dollar less than what TWC asked Charter (CHTR) to pony up.
    • The acquisition is expected to be announced tomorrow.
    | Feb. 12, 2014, 10:38 PM | 6 Comments
  • Feb. 12, 2014, 1:58 PM
    • Bloomberg reports Apple (AAPL +0.3%) plans to launch a new Apple TV set-top as soon as April, and is still talking with Time Warner Cable (TWC -0.1%) and others about supporting their content.
    • The news service cautions the set-top's launch date could change due to the timing of content deals. It reported last July a deal with Time Warner Cable is expected to happen within a few months. Unlike many of their peers, TWC execs have suggested they're comfortable giving up UI control for hardware that supports their services.
    • Recent reports indicate a next-gen Apple TV will also support physical game controllers, and thus act as a casual gaming alternative to traditional consoles. Amazon and Google are also reportedly working on set-tops that support gaming.
    | Feb. 12, 2014, 1:58 PM | 35 Comments
  • Feb. 11, 2014, 9:22 AM
    • Charter (CHTR) confirms it has proposed a full slate of independent candidates for the Time Warner Cable (TWC) board. The 13 names run the gamut up and down the media, retail, and cable industry.
    • The move is in part to advance talks and pressure TWC to accept a lower acquisition offer price.
    • Analyst take: UBS thinks a deal price at $145 per share, repping 7.8X 2015 EBITDA, might get the job done.
    • TWC +0.9% premarket to $136.95.
    | Feb. 11, 2014, 9:22 AM | Comment!
  • Feb. 7, 2014, 3:29 PM
    • Charter (CHTR +0.6%) has nominated a full slate of directors for Time Warner Cable's (TWC -0.2%), according to Bloomberg.
    • Sources indicate Charter isn't ready to increase its offer price for TWC just yet.
    | Feb. 7, 2014, 3:29 PM | Comment!
  • Jan. 31, 2014, 6:11 PM
    • Reuters reports Charter (CHTR) is thinking of raising its bid for Time Warner Cable (TWC) to the "low 140s per share range," and could make a move within two weeks.
    • A source says Charter's change of heart - Charter offered $132.50/share in mid-January, and was quickly rebuffed - is due to "feedback from Time Warner Cable investors Charter has received in its two-week roadshow."
    • Reuters adds Charter is still talking with Comcast (CMCSA - previous) about "how to carve up Time Warner's markets" in the event of a joint bid.
    • Comcast, which could face regulatory scrutiny in the event it tries to expand, is said to be interested in Time Warner's NYC systems, as well as some of its New England assets. Sources state a deal could also result in some Charter systems going to Comcast.
    • TWC +2% AH
    | Jan. 31, 2014, 6:11 PM | Comment!
  • Jan. 30, 2014, 6:06 AM
    • Time Warner Cable Inc. (TWC) declares $0.75/share quarterly dividend, 15.4% increase from prior dividend of $0.65.
    • Forward yield 2.27%
    • Payable March 17; for shareholders of record Feb. 28; ex-div Feb. 26.
    | Jan. 30, 2014, 6:06 AM | Comment!
  • Jan. 30, 2014, 6:05 AM
    • Time Warner Cable Inc. (TWC): Q4 EPS of $1.82 beats by $0.08.
    • Revenue of $5.58B (+1.5% Y/Y) beats by $20M.
    • Press Release
    | Jan. 30, 2014, 6:05 AM | Comment!
  • Jan. 27, 2014, 2:24 PM
    • Comcast (CMCSA +0.8%) will step up to buy cable assets from Charter Communications (CHTR +3.9%) if Charter gets the green light to merge with Time Warner Cable (TWC -0.1%), according to Bloomberg.
    • The cable operators have an agreement in principal on what Comcast would pay for Charter assets in New York City, North Carolina, and New England.
    • Charter is also busy lining up directors to nominate to TWC's board as it looks to exert more pressure on shareholders to accept its offer.
    | Jan. 27, 2014, 2:24 PM | 1 Comment
  • Jan. 26, 2014, 1:39 AM
    • Comcast (CMCSA) reportedly prefers joining up up with Charter Communications (CHTR) to bid for Time Warner Cable rather (TWC) than making an offer on its own.
    • Comcast thinks TWC's asking price of $160 a share is too high, while the latter isn't interested in selling itself in a piecemeal fashion.
    • Charter is willing to let Comcast have TWC's New York-area cable systems in exchange for Comcast backing Charter's bid. The New York network would fit in nicely with Comcast's operations in Connecticut and New Jersey.
    | Jan. 26, 2014, 1:39 AM | 4 Comments
  • Jan. 21, 2014, 1:54 PM
    • Charter Communications (CHTR -0.2%) warns in a new presentation posted on its website that Time Warner Cable (TWC -0.6%) is losing its value as an acquisition target with every day.
    • Steep video subscribers losses and a low growth rate for its Internet business is putting downward pressure on TWC's value, says Charter.
    • The company thinks its offer to buy Time Warner Cable is different than prior bids because it gives shareholders a 45% piece of the new entity.
    • Also, the impact of tax assets can't be ignored under the Charter offer.
    • Presentation slides (.pdf)
    | Jan. 21, 2014, 1:54 PM | 2 Comments
  • Jan. 17, 2014, 10:07 AM
    • Comcast (CMCSA -0.4%) will have a lot to say in how consolidation in the cable industry (CHTR, LMCA, CVC) works itself out.
    • The company seems to play a role, major or minor, in nearly every permutation of a Time Warner Cable (TWC +0.3%) takeover, note analysts.
    • Brean Capital on Comcast's CEO: "Brian Roberts is very much a kingmaker here."
    | Jan. 17, 2014, 10:07 AM | Comment!
  • Jan. 15, 2014, 6:54 PM
    • Reuters reports Charter (CHTR) has "reached out" to Comcast (CMCSA) about a joint bid for Time Warner Cable (TWC), after Time Warner spurned Charter's $132.50/share offer. Charter and Comcast are said to be "in preliminary discussions about how to structure a potential alliance."
    • One source says a bid could involve Charter buying Time Warner in full, and then selling off some subscribers to Comcast.
    • Regulators are bound to closely scrutinize any major cable asset purchases made by Comcast, given its enormous size.
    • More on Charter/Time Warner Cable
    | Jan. 15, 2014, 6:54 PM | 2 Comments
  • Jan. 15, 2014, 7:12 AM
    • Charter (CHTR) COO John Bickham did his best to justify why Time Warner Cable (TWC) is only worth around $132.50 per share during a conference call with the media and analysts yesterday.
    • The exec says Time Warner Cable is guilty of a implementing a failed operating strategy as witnessed by its sharp losses in subscribers.
    • Management doesn't have a high vision on standards and has left the company in a position that would require more work than Charter originally thought.
    | Jan. 15, 2014, 7:12 AM | Comment!
  • Jan. 14, 2014, 3:59 PM
    • 21st Century Fox (FOXA) starts rolling out an app that will give viewers access to shows from its FX Networks.
    • Viewers will have access to 45 to 60 movies a month on top of original programming on their mobile devices through the FXNow app.
    • Customers of AT&T's U-verse, Comcast, Cablevision, and Suddenlink are among those that can access the service, while negotiations are still under way to add more Pay-TV operators.
    • The advantage for the broadcaster is that the service is supported by advertisements, giving the company a crack at capturing revenue from consumers that prefer delayed viewing of shows.
    • What to watch: The list of participating Pay-TV operators is impressive enough that a tipping pointing could be reached where any holdouts (DISH, DTV, TWC) face a competitive disadvantage by not allowing customers access to FXNow.
    | Jan. 14, 2014, 3:59 PM | 1 Comment
  • Jan. 14, 2014, 8:11 AM
    • Jefferies thinks a final deal price for an acquirer to nab Time Warner Cable (TWC) will be close to $150 per share.
    • Yesterday's opening salvo from Charter Communications (CHTR) in the low-$130s didn't stand a prayer of being accepted, but has negotiations moving forward.
    • What to watch: Time Warner Cable is the cable operator that got the hardest hit last year from playing hardball with programmers over carriage fees. Analysts think it might have lost enough leverage that it will have to settle for a deal price below its target level before summer.
    • TWC +1.2% to $134.02 premarket.
    | Jan. 14, 2014, 8:11 AM | Comment!
  • Jan. 13, 2014, 6:56 PM
    • Not surprisingly, Time Warner Cable (TWC) has unequivocally rejected Charter's (CHTR) $132.50/share buyout offer. The company has also confirmed it told Charter last month it's willing to do a deal at $160/share, albeit with a symmetrical collar for the $60/share equity component (rather than an asymmetrical collar, as had been reported).
    • Time Warner says Charter's offer values it at 7x EBITDA, a multiple it asserts is "well below past transactions in the cable sector."
    • CHTR +1.3% AH. TWC +1.7%.
    | Jan. 13, 2014, 6:56 PM | 1 Comment
Company Description
Time Warner Cable Inc provides video, high-speed data and voice services. The Company also offers security and home management services, networking and transport services and enterprise-class, cloud-enabled hosting, managed applications and services.
Sector: Services
Industry: CATV Systems
Country: United States