NEW YORK (TheStreet) -- Charter Communications (CHTR) is the country's fourth-largest cable operator, and something about the company has piqued the interest of famed investor Warren Buffett, said TheStreet's Jack Mohr.
In August, Buffett's Berkshire Hathaway (BRK.A) (BRK.B) took a 2.3 million share stake in Charter. At the time, the value of that stake was just over $365 million. Its value is largely unchanged today, Mohr explained to TheStreet TV.
But Mohr says investors should be looking at Charter Communications for their portfolios, too. Shares of the $17 billion market cap company have fared well in 2014, up 16%. However, the company is about to get a significant boost.
Charter originally tried to acquire Time Warner Cable (TWC) . The attempt failed and Time Warner Cable decided to merge with Comcast (CMCSA) . But Charter isn't the loser in this deal. In order to clear anti-trust regulatory hurdles, Comcast was required to drop 1.5 million of its Time Warner subscribers, Mohr said. Conveniently, those users were sold to Charter.
The Comcast-Time Warner Cable deal is expected to close in early 2015. But now that Charter is solidifying itself as a true U.S. cable provider, investors should think like Warren Buffett and consider the stock after this "game-changer" of a deal, Mohr concluded.