3 Media Stocks in Focus: Charter Eyes Time Warner Bid, AOL Makes a New Hire, and CBS’s Latest Fee Fight
Charter Communications (NASDAQ:CHTR): Charter and Goldman Sachs are reportedly in talks about negotiating the purchase of Time Warner Cable (NYSE:TWC) after being rebuffed by Time Warner earlier this year. John Malone, chairman of Liberty Media (NASDAQ:LMCA), is behind the move, as Liberty owns 27 percent of Charter and has been a proponent of industry consolidation. However, Charter has a market value of $12.6 billion, compared with $33.1 billion for Time Warner Cable, posing some issues with an acquisition.
AOL (NYSE:AOL): AOL has brought on Bob Lord — formerly the global CEO of Razorfish and CEO of Publicis Groupe’s Digital Technologies division — as its new chief of AOL Networks’s online ad unit, a unit helping to drive growth at the company. The division oversees services for more than 22,000 publishers and 4,000 advertiser and agency clients. Lord will be based in New York, report to AOL Chairman and CEO Tim Armstrong, and be a member of the AOL corporate leadership team, the company’s release said.
CBS (NYSE:CBS): Viewers in New York, Los Angeles and Dallas might lose access to to shows like “Under the Dome” and “The Big Bang Theory” as soon as next week if the spat between CBS and Time Warner Cable (NYSE:TWC) is not resolved. Time Warner is reportedly not willing to renew an agreement with CBS, as the latter’s fees are higher than Time Warner is willing to pay.
Don’t Miss: Could Time Warner Cable Customers Lose CBS?