TimeWarner, Comcast eyeing Cablevision in NY?
The board of Cablevision Systems Corp., which counts 3 million New York-area cable watchers, TV networks, and Madison Square Garden among its assets, said yesterday it's "authorized the company to explore the spin-o
The board of Cablevision Systems Corp., which counts 3 million New York-area cable watchers, TV networks, and Madison Square Garden among its assets, said yesterday it's "authorized the company to explore the spin-off of one or more businesses." Release here.
Inquirer reporter Miriam Hill asked Sanford Bernstein & Co. analyst Craig Moffet if Philadelphia-based Comcast is a likely buyer of Cablevision's New York franchise. Said Moffet, "Sure, if they're for sale. The cable system is a jewel, and any operator would want it if they could get a reasonable price."
He added, "If the cable system ever went on the block, the most likely outcome would actually be for Comcast and TimeWarner Cable to bid jointly and divide it up." He predicted TW would take New York City and Westchester County, while "Comcast would end up with North Jersey and southern Connecticut. I don't think Comcast would be particularly interested in the other businesses."
As noted here and elsewhere, Comcast paid an estimated $125 million for online shopping newsletter Daily Candy yesterday. NYT Dealbook link here. That works out to $50 per customer.