Still in the process of digesting Time Warner Cable and Bright House Networks, and reportedly open to more M&A, Charter Communications is outgrowing its headquarters in Stamford, Connecticut, and is looking for bigger local digs, reports the Stamford Advocate.
Citing a company spokesman, the paper said the cable company, which moved to Stamford in 2012 from Missouri, is looking for a bigger office space in the same town. “Charter is well down the path of evaluating other real estate options in Stamford,” the spokesman is quoted.
“We are committed to Stamford. The options we have been evaluating are in Stamford,” said another source, who the Advocate identified as a person “familiar with the company’s decision-making process.”
A Charter rep told FierceCable simply, “Charter is well down the path of evaluating other real estate options in Stamford.”
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Charter currently occupies eight floors in a 500,000-square-foot building at 400 Atlantic St., expanding from just one floor of space when it first moved in five years ago, the paper said.
Suitable new properties include a 700,000-square-foot office complex at 677 Washington Blvd., which previously housed investment bank UBS.
According to Connecticut’s Department of Economic and Community Development, Charter employed 700 workers in the state as of May 2016, the same month it closed on TWC and Bright House.
On Friday, Macquarie Capital analyst Amy Yong described the MSO as being “in the driver's seat” in regard to further M&A.
Citing managements “aggressive approach to leverage” and its “proven track record,” Yong singled out the No. 2 U.S. cable company as the most likely catalyst for the industry’s next major merger deal.
Earlier last week, the New York Post reported that Charter is interested in reapproaching the No. 3 operator, privately held Cox Communications. But Cox continues to steadfastly deny that it’s remotely interested in being purchased.