Cablevision Hires Charter CFO

Michael Huseby will shift east starting Aug. 20.
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Cablevision

(CVC)

named Michael Huseby financial chief Wednesday, luring him away from rival

Charter Communications

(CHTR) - Get Report

.

Charter said Huseby would leave Aug. 20 after working to "ensure the orderly transfer of his responsibilities to a replacement, who is expected to be named shortly."

The move comes after St. Louis-based Charter last week settled a long-running

Securities and Exchange Commission

probe into its accounting. Meanwhile, Cablevision shares rose sharply Monday as investors speculated that the company could be swept up in a round of industry consolidation. Those rumors were set off by a bid by

Cox Communications'

(COX)

controlling shareholder to take the big cable operator private.

In the meantime, Long Island-based Cablevision has become embroiled in a dispute with

Time Warner

(TWX)

over fees for sports programming.

On Wednesday, Charter rose 9 cents to $3.20 and Cablevision dropped 66 cents to $18.19.