Report: Time Warner CFO brushes off Comcast merger rumor
Speaking at the Goldman Sachs Communacopia Conference today, Time Warner Cable CFO Rob Marcus downplayed the possibility of his company merging with Comcast.
The rumor that the nation’s largest and second largest cable operators, which are, respectively, Comcast and Time Warner Cable, started making the rounds after an appeals court struck down the Federal Communication Commission’s 30 percent ownership cap last month.
According to a story today by Mediaweek.com Marcus said that while he was pleased with the court’s decision, he doesn’t see an immediate impact.
“I’m not really sure it’s significant,” Marcus was quoted by Mediaweek.com. “The benefits of scale are pretty well known. We’re not interested in getting bigger just for the sake of getting bigger.”
Marcus also said at the conference that the slower subscriber growth was due to the recession, although he did acknowledge that competition from DBS and telco video providers was also having an impact. Marcus said housing and unemployment were also factors, but he expects Time Warner Cable to bounce back once the economy improves, according to the story.