Rumor mill: Charter has ‘battle raging’ between Rutledge and Malone

Liberty chief John Malone
John Malone

Charter Communications is beset by a “battle raging” between Chairman and CEO Tom Rutledge and its largest shareholder, Liberty Media czar John Malone, over the future of America’s second-largest cable company.

This information, which can only be categorized as juicy gossip at this point, comes courtesy of The New York Post and its typical anonymously sourced reporting.

The Post doubled down on its June report that Rutledge is looking to have Charter buy privately held Cox Communications, despite the Atlanta-based Cox’s staunch and sustained insistence that it’s not for sale.  

FREE DAILY NEWSLETTER

Like this story? Subscribe to FierceVideo!

The Video industry is an ever-changing world where big ideas come along daily. Cable, Media and Entertainment, Telco, and Tech companies rely on FierceVideo for the latest news, trends, and analysis on video creation and distribution, OTT delivery technologies, content licensing, and advertising strategies. Sign up today to get news and updates delivered to your inbox and read on the go.

RELATED: SoftBank reportedly set to make another pass at a Charter-Sprint union

Meanwhile, Malone, who controls 27% of Charter’s stock, reportedly wants to see Charter sold to Japan’s SoftBank or any number of other potential suitors. 

“I think Malone is a seller,” the Post quoted an anonymous source, who added that “the board is totally behind Rutledge.”

The paper said SoftBank recently offered Charter $540 a share. “I wouldn’t count Malone out,” the source said. “There is a 50% chance a SoftBank-Charter deal happens in six months.”

Neither Charter nor Liberty has commented on the Post story.

Suggested Articles

Video product vendor Synamedia is planning to debut at IBC Show a handful of new tools to help content and service providers take on video piracy.

Key details about Apple TV+, the company’s upcoming video streaming service, are still in frustratingly short supply. But MacRumors has uncovered what could be…

Video measurement and analytics company Comscore will lay off approximately 8% of its workforce as part of a plan to reorganize its technology, product and…