Despite the acquisition rumors, it’s business as usual for Time Warner Cable. The nation’s second-largest cable operator announced this morning that Christian Lee had been promoted to senior vice president, mergers and acquisitions effective Dec. 31.
Separately, Rob Marcus, who will take over the reins of the company on Jan. 1, said in a Bloomberg story that he was “the perfect guy to manage the M&A component out there.” Amidst rumors of buyouts of Time Warner Cable by Charter Communications, Comcast, Liberty Media/Charter Communications and Cox Communications , Bloomberg cited an un-named source that said Time Warner Cable would “probably accept a bid of $150 to $160 a share.”
As for Lee, he will take over the M&A duties from Satish Adige, who is retiring after 28-years with Time Warner Cable. In his new position, Time Warner Cable said Lee would oversee all M&A, investment, and acquisition integration activity for the company.
“Christian is an accomplished executive who brings a wealth of experience and leadership qualities to his new role.” said Time Warner Cable’s executive vice president and chief financial ffficer Artie Minso, who joined the company earlier this year. “Under his direction, we will continue to pursue our disciplined and strategic approach to investing and M&A.
“I would also like to thank Satish Adige for his tireless efforts on behalf of Time Warner Cable. Satish has been involved in many of Time Warner Cable’s most important transactions, and his mentorship of Christian over the last few years allows for a seamless transition in this important discipline. I speak for all Time Warner Cable employees in wishing Satish nothing but the best on his well-deserved retirement.”
In his current job as vice president, investments, Lee has helped broker numerous transactions, including the spinoff of Time Warner Cable from Time Warner Inc. in 2009, the pending acquisition of DukeNet Communications, and acquisitions of Adelphia Communications, Insight Communications, NewWave Communications and NaviSite.
Prior to joining Time Warner Cable in 2007, he worked in the finance and acquisitions department at Time Warner Inc. and, before that, in the Investment Bank at Citigroup.
Yesterday Time Warner Cable announced that former Insight Communications executive Dinni Jain would be joining the company on Jan. 13 as its new chief operating officer, which is currently held by Marcus.