By Mike Farrell, Multichannel News -- Broadcasting & Cable, 3\/18\/2013 1:32:14 PM Charter Communications stock soared more than 10% Monday after a report in the Wall Street Journal said Liberty Media, headed by cable legend John Malone, was planning to acquire a 25% interest in the mid-sized market MSO for an estimated $2.5 billion. <\/p>\n
Citing unnamed sources, theJournal said Liberty was close to acquiring the stake, but offered no further details. <\/p>\n
Charter shares soared on the news - the stock was up as much as 10.5% ($9.49 per share) to $99.50 each in early Monday trading, settling down slightly to $96.10 per share by the afternoon, up 6.6% or 6.1%. <\/p>\n
Officials at Charter and Liberty each declined to comment. <\/p>\n
If a deal is announced, it would be Liberty Media's first foray into U.S. cable distribution since it was part of Tele-Communications Inc., more than two decades ago.TCI was sold in 1999 to AT&Tfor about $49 billion. <\/p>\n
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Charter Stock Soars on Liberty Speculation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" By Mike Farrell, Multichannel News -- Broadcasting & Cable, 3\/18\/2013 1:32:14 PM Charter Communications stock soared more than 10% Monday after a report in the Wall Street Journal said Liberty Media, headed by cable legend John Malone, was planning to acquire a 25% interest in the mid-sized market MSO for an estimated $2.5 billion. Citing unnamed sources, theJournal said Liberty was close to acquiring the stake, but offered no further details. Charter shares soared on the news - the stock was up as much as 10.5% ($9.49 per share) to $99.50 each in early Monday trading, settling down slightly to $96.10 per share by the afternoon, up 6.6% or 6.1% Continue reading