Time Warner Cable (NYSE: TWC) executive Matthew Siegel has been named CFO of "SpinCo," the temporarily named new cable company being launched in a joint venture by Charter Communications (NASDAQ: CHTR) and Comcast (NASDAQ: CMCSA), it was announced Monday.
"Matt's background, expertise in finance and knowledge of the cable industry make him a natural choice to serve as SpinCo CFO," said SpinCo CEO Michael Willner in a statement. "I have known Matt for many years and he is the ideal leader to oversee the financial operations of the new company. I look forward to working with him again."
The new publicly traded cable services provider will have 2.5 million customers in Alabama, Indiana, Kentucky, Michigan, Minnesota, Tennessee and Wisconsin, spun off from Comcast as part of its merger with Time Warner Cable, regulators allowing. Comcast owns a 33 percent stake in the joint venture.
Siegel will stay on as senior VP and treasurer of Time Warner Cable until the company's deal with Comcast closes, should it close.
In his current role with TWC, Siegel oversees treasury functions, investment management, real estate, risk management and supply chain management. He joined TWC in 2008 from Time Warner Inc.
For more:
- read this Multichannel News story
- read this press release
Related links:
Charter doing fine as a standalone operator, analyst says
Willner tapped as CEO of new Comcast-Charter SpinCo venture
Comcast to divest customers, assets to Charter