Charter Communications is inching toward a potential merger deal with Time Warner Cable, the Wall Street Journal reported on Sunday, opting for a more amicable approach than last year's unsolicited bid.
In news first reported last week by CNBC, The Journal cited sources close the matter as saying Charter Chief Executive Tom Rutledge and TWC chief Rob Marcus are set to meet at the annual National Cable & Telecommunications Association convention in Chicago this week. Rutledge is interested in friendly deal talks, the publication said, citing people familiar with his approach.
Malone's expected approach comes after Time Warner Cable and Comcast called off a merger bid in the face of hardening regulatory opposition (Comcast is the parent company of NBC Universal and CNBC). According to the WSJ, Charter Chairman Eric Zinterhofer had dinner with Mr. Marcus, people familiar with the meeting said.
The Journal's full report can be read here (note subscription may be required).