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Stock Market & Financial Investment News

News Breaks
February 5, 2013
14:52 EDTCOX, TWX, CHTRCharter rumored to be prepping for 'big deal,' Deadline NY says
Charter (CHTR) shares are higher amid rumors of an impending deal with Time Warner (TWX) or Cox (COX), according to Deadline New York. Reference Link
News For CHTR;TWX;COX From The Last 14 Days
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May 26, 2015
07:44 EDTCHTRTime Warner Cable unlikely to receive additional bid, says RBC Capital
After press reports stated that Charter (CHTR) was about to announce that it had agreed to buy Time Warner Cable (TWC) for $5B, RBC Capital says that the high multiple of the offer was due to the interest of another company, Altice, in buying Time Warner Cable. However, the firm does not expect Altice to make a counterbid, given the high multiple of the reported Charter deal and the reported $2B break=up fee. RBC keeps a Sector Perform rating on Time Warner Cable.
06:28 EDTCHTRCharter and Time Warner Cable host joint conference call
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06:18 EDTCHTRLiberty Interactive to invest $2.4B in support of Charter-Time Warner Cable deal
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06:14 EDTCHTRLiberty Broadband to invest $5B with Charter in connection with Time Warner deal
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06:12 EDTCHTRTime Warner Cable shares valued at $195.71 in Charter takeover
06:08 EDTCHTRLiberty Broadband to own 19%-20% of New Charter
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06:05 EDTCHTRCharter to merge with Time Warner Cable, acquire Bright House Networks
Charter Communications (CHTR) and Time Warner Cable (TWC) announced that they have entered into a definitive agreement for Charter to merge with Time Warner Cable. The deal values Time Warner Cable at $78.7B. Charter will provide $100.00 in cash and shares of a new public parent company equivalent to 0.5409 shares of CHTR for each Time Warner Cable share outstanding. The deal values each Time Warner Cable share at approximately $195.71 based on Charter's market closing price on May 20, or approximately $200 based on Charter's 60-trading day volume weighted average price. In addition, Charter will provide an election option for each Time Warner Cable stockholder, other than Liberty Broadband (LBRDA) or Liberty Interactive (QVCA), who will receive all stock, to receive $115.00 of cash and New Charter shares equivalent to 0.4562 shares of CHTR for each Time Warner Cable share they own. In addition, Charter and Advance/Newhouse Partnership announced that the two companies have amended the agreement which the two parties signed and announced on March 31, whereby Charter will acquire Bright House Networks for $10.4B. That agreement, as amended, provides for Charter and Advance/Newhouse to form a new partnership of which New Charter will own between approximately 86% and 87% and of which Advance/Newhouse will own between approximately 13%-14%, depending on the Time Warner Cable shareholders' cash election option described above. The consideration to be paid to Advance/Newhouse by Charter will include common and convertible preferred units in the Partnership, in addition to $2B in cash. The common and convertible preferred partnership units will each be exchangeable into shares of New Charter. The Charter-Advance/Newhouse transaction is expected to close contemporaneously with the Charter-Time Warner Cable transaction. Charter also announced today that Liberty Broadband has agreed to purchase, upon closing of the Time Warner Cable transaction, $4.3B of newly issued shares of New Charter at a price equivalent to $176.95 per Charter share, which represents Charter's closing price as of May 20. As previously-announced, Liberty Broadband will also purchase, upon closing of the Charter-Advance/Newhouse transaction, $700M of newly issued Charter shares at a price equivalent to $173.00 per Charter share.
06:01 EDTCHTRCharter to merge with Time Warner Cable, acquire Bright House Networks
May 25, 2015
17:23 EDTCHTRCharter in advanced talks for Time Warner Cable, Bright House, WSJ says
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12:50 EDTTWXDisney's 'Tomorrowland' leads U.S. weekend box office with $32.2M
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May 22, 2015
05:50 EDTCHTRCharter in talks to buy TWC for above $170/share, WSJ reports
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May 21, 2015
18:01 EDTCHTRFCC's Wheeler reaches out to cable executives, WSJ says
According to people familiar with the matter, FCC Chairman Tom Wheeler has in recent days called on cable executives to convey the message that the agency is not against any and all future cable deals despite the scrutiny put upon the once proposed Comcast (CMCSA)-Time Warner Cable (TWC) merger, reports the Wall Street Journal. Wheeler, according to the WSJ, called on Time Warner Cable CEO Rob Marcus and Charter Communications (CHTR) CEO Tom Rutledge, as well as other cable executives. Reference Link
09:58 EDTCHTROn The Fly: Analyst Upgrade Summary
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09:08 EDTCHTRCharter upgraded to Buy with $221 price target at Wunderlich
Wunderlich upgraded Charter Communications to Buy from Hold saying its $221 price target is an "organic 2016 valuation," excluding potential M&A transactions. The firm says potential M&A deals could take its price target above $250.
06:51 EDTCHTRCharter upgraded to Buy from Hold at Wunderlich
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May 20, 2015
06:28 EDTCHTRAltice, Time Warner Cable have held talks about potential deal, Reuters reports
According to a source, Reuters reports that Altice is looking into buying Time Warner Cable (TWC), whose merger with Comcast (CMCSA) fell apart last month. The source says Altice has held talks with Time Warner Cable about a potential deal. Charter (CHTR) is also seeking to potentially buy Time Warner Cable. Reference Link
May 19, 2015
07:36 EDTCHTRAutomakers to start V2V car rollouts with spectrum at a premium, WSJ says
General Motors' (GM) upcoming Cadillac CTS is the only car firmly scheduled to launch in the U.S. with vehicle-to-vehicle communications, or V2V, but the industry has promised that V2V will revolutionize safety and Cisco (CSCO) joined automakers earlier this month to brief the FCC on plans to test airwave sharing soon, said The Wall Street Journal. However, cable and telecom companies are pressuring carmakers to give up a part of the airwaves marked for V2V to be available for broader use, the report added. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), Honda (HMC), Toyota (TM) and Volkswagen (VLKAY), while cable and telecom companies include Verizon (VZ), AT&T (T), Sprint (S), T-Mobile (TMUS), Comcast (CMCSA), Time Warner Cable (TWC) and Charter (CHTR). Reference Link
May 18, 2015
13:42 EDTCHTRCharter, Advance/Newhouse reaffirm commitment to Bright House transaction
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May 17, 2015
18:31 EDTCHTRBanks prepare $25B funding in case of Charter-Time Warner deal, Reuters says
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15:37 EDTTWXUniversal's 'Pitch Perfect 2' leads U.S. weekend box office with $70.3M
For the weekend of May 17, Comcast (CMCSA, CMCSK) subsidiary Universal's "Pitch Perfect 2" topped domestic box office charts at $70.3M. Time Warner (TWX) subsidiary Warner Bros.' "Mad Max: Fury Road" landed in second place with $44.4M, while Disney's (DIS) "Avengers: Age Of Ultron" came in third with $38.8M. Warner Bros.' "Hot Pursuit" and Universal's "Furious 7" took fourth and fifth place at $5.8M and $3.6M, respectively. Data gathered by Rentrak.
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