BRITT GLENN is one of the largest insider shareholders in Time Warner Cable Inc (NYSE:TWC), according to U.S. Securities and Exchange Commission (SEC) filings. The new cable giant has more than 25 million customers in 41 states, including more than 17 million video subscribers, with outposts in NY and Los Angeles – and a major holdings in NY state, Florida, Ohio, Michigan, the Carolinas, and Texas. The company’s stock rose 33 cents to $225.24 in midday trading.
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Time Warner Cable Inc (NYSE:TWC) initiated the shares trading at $209.57 and showed negative change of -0.21% while the stock’s final trade was registered at $ 209.56.
Time Warner Cable and Cox customers in the Northeast lost TV, phone and Internet services for hours on Monday.
“Bright House customers shouldn’t see any changes today or any changes for the coming months”, Justin Venech, a Charter spokesman in CT, said Wednesday.
For an industry that’s already a shining example of outsized corporate power, bad customer service, and shitty products, cancelling out competition is more of the same.
Time Warner Cable Inc: On Friday, May 13, 2016 heightened volatility was witnessed in Time Warner Cable Inc which led to swings in the share price.
The deal, originally valued at $67 billion when announced previous year, has been adjusted upward to reflect higher stock prices.
Over the last 3 months, the insider sentiment on Time Warner Cable has been negative based on 32 corporate insider transactions. Time Warner had more than 14 million customers.
The Connecticut company is not new to the LA market. Liberty Broadband, which previously had a large stake in Time Warner, is also purchasing $5 billion worth of newly issued Charter stock as well.
Tom Sepanski, Landor’s regional director for North America naming and verbal identity, said Charter could reap big benefits if the name change comes with an improvement in customer service and other areas where Time Warner was perceived as falling short. The shares were sold at $214.76 per share for a total value of $5,306,628.50, the company said in a SEC Form 4 Filing.
The Community Progress Makers Fund supports community organizations that are leading urban transformation efforts that create economic opportunities for low-income households and communities. The merger drew opposition from some advocacy groups, including one that took to calling the new Charter “Mega Cable”.
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He said the future for most of the employees joining Charter was extremely bright.
