Time Warner Cable, the second-largest US cable operator, could be carved up like a Thanksgiving turkey.
Comcast, run by Brian Roberts, and Charter Communications, have reportedly both discussed a possible combination with Time Warner Cable in recent moths.
Though the talks are no longer active, Time Warner Cable reached out to Comcast about a merger, sources told The Post.
Time Warner Cable’s move was likely aimed at warding off a potential bid from smaller rival Charter, backed by John Malone’s Liberty Media.
Comcast’s possible involvement emerged Friday after the Wall Street Journal reported that Charter was close to an agreement with banks about arranging debt financing for a Time Warner Cable bid.
Malone, who rode the first wave of cable mergers in the 1980s and ’90s, has been pushing for further consolidation in the industry.
Meanwhile, Comcast has also held talks with Charter, the fourth-largest cable operator, about partnering on a possible bid for Time Warner Cable, sources said.
“A joint bid would be complex, but it’s doable,” said Gabelli money manager Chris Marangi.
The companies all declined to comment.
The two could split up the Time Warner assets, which include cable systems in New York, Los Angeles, Texas and portions of the Midwest.
“Comcast desperately wants to own the New York metro area,” said one source.
Comcast, based in Philadelphia, also owns the New York-headquartered NBCUniversal.
While sources close to Comcast played down any regulatory issues, a breakup of Time Warner Cable would allow Comcast to pick up smaller pieces.
Comcast and Time Warner Cable have a history. Comcast owned a 21 percent stake in Time Warner Cable before the two agreed to swap assets as part of a complicated deal to acquire bankrupt Adelphia in 2005.
The architect of that deal on the Time Warner Cable side was Rob Marcus, who is poised to take over the company as CEO after Glenn Britt retires in a few weeks.