Let the cable company consolidation wars begin!
On a day dominated by news that Charter Communications was readying a $135-a-share offer for Time Warner Cable, sources Friday said Cablevision may soon enter the fray.
The Bethpage, NY, company controlled by the Dolan family is likely to be approached soon by private equity players eager to back a bid for pieces of TWC, the sources added.
Cablevision sits right next door to Gotham City-based TWC, which appears headed to the chop shop.
A spokesman for Cablevision declined comment.
Cablevision, founded by Charles Dolan and run by son Jim, isn’t likely to rush into battle, however.
The family first will want to see how John Malone’s vision of a cable roll-up plays out — particularly whether Charter’s attempts to buy TWC are successful, sources said.
Comcast is also circling TWC, which services 12 million subscribers.
Malone’s Liberty Media owns a 27 percent stake in Charter.
Interestingly, the Dolan-family backed AMC Networks just acquired global programming entity, Chellomedia, for $1 billion from Malone’s international arm, Liberty Global.
Malone has been an outspoken proponent of the need for cable consolidation.
Charter, run by Tom Rutledge, a former Cablevision executive, is set to get the ball rolling this coming week.
Charter’s proposed offer was first reported by Bloomberg.
TWC shares closed Friday at $131.41, up marginally.