Potentially pocketing more than $100 million, Time Warner Cable (NYSE: TWC) chief executive Rob Marcus leads a host of cable executives, traders and bankers who will profit handsomely through golden parachutes, advisory fees and investment returns should Charter Communications' (NASDAQ: CHTR) proposed $56.7 billion takeover of TWC get approved.
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According to a regulatory filing, Marcus will effectively be terminated without cause, making him eligible for several years' worth of salary, bonuses and stock compensation. Marcus only replaced the late Glenn Britt as chairman and CEO of TWC in January 2014. He would have made around $80 million had Comcast's (NASDAQ: CMCSA) failed attempt to buy TWC gone through.
Other TWC executives potentially receiving sizable golden parachutes include COO Dinesh Jain and CFO Arthur Minson, who would each get around $32 million. General counsel Marc Lawrence Apfelbaum would receive $22 million; and Peter Stern, chief product, people and strategy officer, would net around $18 million.
Beyond the golden parachutes going to TWC execs, however, Charter's top brass would also see their bottom lines personally enhanced. The New York Times notes that Charter chief executive Tom Rutledge would probably see his paycheck enhanced to the level of Liberty Media mogul John Malone's other top lieutenants.
These include Discovery Communications chief David Zaslav, who received $156 million in compensation in 2014.
Meanwhile, investment banks advising on the purchase will split an estimated $100 million to $150 million.
For more:
- read this New York Times story
- read this Deadline Hollywood story
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