Time Warner Cable chief operating officer Rob Marcus, speaking to a packed house of industry professionals here Monday at the UBS Global Media & Communications conference, backtracked on a recent article that seemed to show he was ready to sell the cable giant at the right price, and instead focused on his plans to organically grow the troubled MSO.
Marcus referred to a recent Bloomberg News article that quoted him as saying he was the right man to steer TWC through its current M&A situation, adding that according to unnamed sources TWC would be willing to do a deal in the $150 to $160 per share range.
Marcus said his comments to Bloomberg were taken out of context in order to generate “a sexy headline,” and were made in response to a question about how a deal would impact his career. Marcus is slated to become chairman and CEO of TWC in January, after the retirement of current chairman and CEO Glenn Britt.
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