Comcast and Cablevision Rise on Time Warner Merger Deal -- Telecom Winners & Losers

NEW YORK (TheStreet) -- Time Warner Cable  (TWC) and Charter Communications (CHTR) weren't the only winners in the mega-telecom merger announcement Tuesday. Comcast (CMCSA) and Cablevision (CVC) also climbed higher on a day when the markets took a beating.

Comcast rose 1.2% to close at $58.59.

Investors cheered the company on after its former buyout target Time Warner Cable struck a deal with Charter. In April, Comcast stepped away from its $45.2 billion buyout offer for Time Warner, after it appeared that the deal would never pass muster with federal anti-trust regulators.

Comcast had tried for a year to get the deal done, but ultimately failed. No worries.

"This deal makes all the sense in the world. I would like to congratulate all the parties," said Comcast CEO Brian Roberts said in a statement.


Cablevision soared 3.5% to finish the day at $25.86.

The cable company's investors apparently feel there is still a chance for their portfolio company to be snapped up. And a report by R.W. Baird, as noted in Barron's, added fuel to the fire.

"Although CVC wasn't part of today's announcement, a combination could still make sense at a later time, enabling CHTR to consolidate the greater NYC market. We believe CVC makes more sense with TWC, and would view a separate Altice transaction as less likely," the research firm is quoted in a Barron's report.

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