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Cable chatter has Charter, Cablevision shares on the move

Friday, 2 Aug 2013 | 11:37 AM ET
Faber Report: Cable consolidation chatter
The cable space could be getting smaller, reports CNBC's David Faber with the latest details on discussions between Charter Communication and Cox Communications.

Consolidation chatter in the cable industry has stocks in the sector on the move.

Charter Communications shares were up more than 4 percent on a report from Bloomberg News that there are "discussions" between Charter and privately held Cox Communications.

Charter has indicated in the past a desire to consolidate, CNBC's David Faber reports, possibly with Time Warner Cable. That company's stock dropped nearly 3 percent, presumably on losing its "takeover premium" if Charter is indeed moving on.

Meanwhile, Cablevision shares are up nearly 7 percent. The jump—to highs not seen since August 2011— seems to be on a suggestion on the earnings call that the company is more open to a sale than in the past, Faber reports.

Cablevision stock hit a single-stock circuit breaker at 10:32 a.m. on unusual volume—a change of 10 percent or more within a five-minute period—up 4.6 percent.

(Read More: Cable, content companies stop fighting: Comcast CEO)

Cablevision has doubled its 10-day average volume of 2.1 million shares, trading over 4.25 milion shares today.

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CHTR
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TWC
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CVC
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