Charter tried to publicly pressure Time Warner Cable into merger talks Mon, but the MSO’s board swiftly rejected Charter’s most recent offer, calling it “grossly inadequate.” It’s actually the 3rd proposal TWC has rejected, with Bloomberg reporting that it was for $132.50—$83 in cash and $49.50 in stock (valuing TWC at more than $61bln). More about the letter and how TWC CEO Rob Marcus responded here.
More top stories in today’s CableFAX Daily here:
DirecTV subs lost Weather Channel in the early morning hours Tues. More on the hours before the drop here.
Google announced it has entered into a $3.2bln agreement to buy home automation company Nest Labs.
Fox chmn, entertainment Kevin Reilly didn’t mince words at TCA on Mon, telling critics that he’s abandoning pilot season because it no longer serves a purpose and in some ways puts bcst nets at a disadvantage to cable. Michael Grebb, our reporter on the ground at TCA, has the story.