NEW YORK ( TheStreet) - John Malone's Liberty Media (LMCA) continues to press a merger with Time Warner Cable (TWC) using its 27% holding in cable system Charter Communications (CHTR), Bloomberg News reports.
After being rebuffed earlier in June, Malone is continuing to work on structuring a deal that would be the largest in size since a media industry merger wave over a decade ago, according to the Bloomberg report.
Time Warner shares gained over 8% to $112.01 in Thursday afternoon trading, while Charter shares gained over 5% to $125.72. Liberty Media shares gained over 2.5% to $127.51.
Still, according to the Bloomberg report, Time Warner is not interested in a merger, given the cable giant's larger size.According to industry analysts, a deal for Time Warner would only likely occur at a significant premium to the company's $30 billion market-plus cap, potentially out of reach of smaller competitors like Liberty Media and Charter Communications. "Our conclusion is that
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