For Tom Rutledge, the man orchestrating a $61 billion takeover battle for Time Warner Cable Inc., the role of dealmaker came late in his career.
Cablevision Systems Corp. dropped the most in seven weeks after saying Chief Operating Officer Tom Rutledge will step down this month for undisclosed reasons.
Time Warner Cable Inc. rejected an acquisition offer from Charter Communications Inc. valued at more than $61 billion including debt, spurning the biggest unsolicited takeover bid since 2008.
U.S. retail sales probably rose in February as consumer spending stabilized, data in the coming week may show.
Cablevision Systems Corp. may try to go private or seek a buyer following the resignation of Chief Operating Officer Tom Rutledge, analysts said.
Cablevision Systems Corp. is now the cheapest U.S. cable or satellite-television provider for potential acquirers from Time Warner Cable Inc. to Comcast Corp. following the resignation of its chief operating officer.
Charter Communications Inc. may not lick its wounds for long before trying to grab another piece of the consolidating U.S. cable industry.
"Smart networks make dumb screens smart."
- Tom Rutledge on Jan 06, 2015