Charter Communications CEO Tom Rutledge told analysts Friday morning that the company’s failed pursuit of Time Warner Cable wasn’t about lowering programming costs, adding that the mid-sized cable operator’s biggest opportunity for increasing scale lies within its own footprint.
Charter had pursued TWC for about eight months, launching an unsolicited $132.50 per share bid for the cable giant on Jan. 13. On Feb. 13, Comcast bested that offer with its own $158.82 per share proposal for TWC.
On a conference call with analysts to discuss fourth quarter results, Rutledge said that contrary to some opinions, Charter’s pursuit of scale – TWC would have added about 11 million customers to its existing 4 million subscribers – wasn’t about lowering programming costs.
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