The coincidental juxtaposition of two Time Warner Cable (NYSE: TWC) personnel moves offer insight into the importance of sports in today's cable universe. The MSO officially named David Rone as president of sports while a "person familiar with the matter" said that it is "close to hiring" Irene Esteves as its chief financial officer.
First things first. Rone, a former agent at Creative Artists and senior executive at Fox Sports and Walt Disney Co. (NYSE: DIS) is expected to hit the floor fastbreaking as Time Warner moves to become a force in the sports programming business. "We really needed somebody to provide vision and leadership if Time Warner Cable is to raise the bar," Melinda Witmer, TWC executive vice president said.
One would think the MSO also really needs someone to help Rob Marcus, who has been handling CFO duties along with being COO since last December when the company abruptly terminated Landel Hobbs as its COO. Esteves, who is still hammering out a deal apparently, did issue a statement she will be leaving her current post as CFO of XL Group Plc "following a transition period."
For more:
- the Los Angeles Times has this post
- Bloomberg has this story
Related articles:
Time Warner Cable scores big with Lakers deal
Robert Marcus named president-COO of Time Warner Cable