CNBC News Releases

CNBC Exclusive: CNBC Excerpts: Time Warner Cable CEO & Chairman Robert Marcus Speaks with CNBC's "Squawk on the Street" Today

WHEN: Today, Thursday, April 30th

WHERE: CNBC's "Squawk on the Street"

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Time Warner Cable CEO & Chairman Robert Marcus on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today. Following is a link to the interview on

All references must be sourced to CNBC.


Because of the pendency of the Comcast merger for over a year now, I think it's fair to say the consensus really wasn't terribly relevant this time around. It's been a long time since people have updated their models and mostly the outside world has been primarily focused on whether or not the merger would close. By contrast, I would tell you everybody that at Time Warner Cable all the while was very focused on delivering very strong results and executing on our operating plan.


From the very first day we announced the deal I instructed our troops that we needed to do two things: one, in the event that the deal closed, which is what we expected, I wanted to deliver a really great company to Comcast. After all, we were going to be a big part of what the combined company was, so the results mattered. But we also needed to be prepared for the eventuality that maybe the deal didn't close and it turns out that that instruction was actually wise advice and here we are now. But I think we're very prepared for a future on our own.


We've never needed to be larger, we've always been guided in our M&A approach by a single principle which is we're going to do whatever maximizes value for our shareholders. That principle still applies.


I am guided by a single principle and that is maximizing shareholder value and whether that takes the form of running the company as well as we possibly can as a standalone or engaging in M&A as a buyer or a seller, the same principle applies – maximization of shareholder value.


We have a long tradition of I believe being very smart capital allocators. I think it's one of the things that has driven the Time Warner Cable story over many years. We have to sit with our board, it's only been a week since the Comcast merger was terminated. We have to sit down with our board and revisit our approach to capital allocation, dividends, buybacks. But I think shareholders should rest assured that the principles that guided us in the past haven't vanished overnight.


I thought when we announced the deal that it was an approvable transaction. I believe we had very compelling arguments as to why it should've been approved. Obviously, regulators were not receptive to those arguments. My view is that there's no point in looking back. We're absolutely looking forward.

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