Rob Marcus, the incoming Chief Executive Officer of Time Warner Cable Inc, said he will be able to decide if the company needed to be sold. In an interview with Bloomberg, Marcus said, "I am the perfect guy to manage the M&A component out there. As much as I'd like to be modest, I am kind of built to manage situations like this."
Marcus, who will be assuming the position on January 1, will be replacing current CEO Glenn Britt amid rumors that the cable business is going to be put up for sale. Marcus was the Head of Mergers for Time Warner Cable from2003 to 2005. He is currently the Chief Financial Officer of the cable company. He said his background gave him the experience to spot a good deal when he sees one.
Sources told Bloomberg that a smaller competitor, Charter Communications Inc, is said to be coming up with an offer to acquire Time Warner Cable Inc. They added that Comcast Corp and Cox Communications Inc were also mulling a takeover bid. Last week, one source said Charter is gathering an estimated USD 25 billion in debt financing as part of its possible offer. The people also said Charter, backed by billionaire John Malone, is thinking of making a joint offer with Comcast for the acquisition. The two firms would then split up the assets of Time Warner Cable among themselves.
Although he worked his way to the ranks at the company, Marcus is not loath to the ideal of selling the company. He said he will go for a sale if the sale agreement will allow shareholders to make more money than if he were to run the firm and even if the deal will not make him CEO.
He told Bloomberg, "I am interested only in the value creation and not in entrenchment or my role here. If I want another job, I'm going to get one. I have no doubt. And it's going to be a good one."
Join the Conversation