Time Warner Cable CEO To Make 'Personal' Killing on Comcast Deal
As we've noted previously
, short-lived new Time Warner Cable CEO Rob Marcus stood to profit quite handsomely from getting an acquisition deal done just months after taking over the CEO spot from Glenn Britt. Language in his contract has Marcus potentially making $56 million (depending on stock fluctuations) on Comcast's proposed acquisition of the company, assuming it makes its way past regulators.
Still, speaking to Multichannel News
about the Comcast deal, Marcus insists he really would have loved to stick around and, you know, actually do some work to make Time Warner Cable less of an unpopular company. Specifically amusing is that Marcus insists you "have to remove yourself personally" from such things:
“If there is an alternative that you believe is going to generate more value for shareholders, my view is that you really don’t have the option to stick with Plan A.
Once I concluded that the Comcast deal would generate more value for shareholders, the conversation was over. You have to remove yourself personally from these valuations. While we all have ambitions and personal desires, that’s not the responsibility that I have been given."
Surely the massive windfall Marcus will net had nothing to do with it, right? Time Warner Cable has recently promised a slew of TV and broadband upgrades
under the internal brand name "Maxx" that the company may never have to follow through on. Still, Marcus insists that the company won't just play possum waiting for the deal to get approved:
“You better believe we are going to use every day of it to knock the ball out of the park in terms of executing our operating plan,” Marcus said. “Simply as a point of pride, we want to hand the baton over to Comcast with this company in the best shape it’s ever been in."
Surely users in our Time Warner Cable forum
can keep us abreast of just how "far out of the park" Time Warner Cable knocks it as they work to spend their latest round of price hikes