Thursday, June 22, 2017

Report: Charter Eying Cox Communications

Charter Communications — the nationwide cable giant whose properties include Spectrum, formerly Time Warner Cable — is weighing a fresh plan to acquire Atlanta-based Cox Communications, three sources told The NY Post.

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.

“Tom wants to buy Cox,” said one highly placed cable source. Another confirmed the news, but stressed there have been no formal approaches.

Cox, the third-largest cable company in the US with 6.2 million customers, has long said it isn’t for sale.

“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,” Cox spokesman Todd Smith told The Post on Wednesday. Charter declined to comment.

Still, insiders say Charter may have reason to believe a change of heart is afoot.

In April, Cox Enterprises, the corporate parent of Cox Communications, named Alex Taylor, the great-grandson of the founder James Cox, as the company’s next CEO. He will take over on Jan. 1.

Cox was once public but returned to private ownership in 2004.

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