Maffei: Charter Deal Could Lead to Other Cable Buys

Liberty CEO tells CNBC Charter is "rare" opportunity

By Mike Farrell, Multichannel News -- Broadcasting & Cable, 3/19/2013 5:18:23 PM

Liberty Media CEO Greg Maffei said the media giant's recent deal to acquire a 27% interest in Charter Communications was a "rare" opportunity to secure a significant chunk of a major cable operator, hinting that the deal could lead to other cable deals if opportunities arise.

Liberty agreed Tuesday to acquire 26.9 million shares of Charter stock and 1.1 million warrants from three major shareholders for about $2.617 billion.  The deal is expected to close in the first half of the second quarter.

In an interview with CNBC's "Squawk Box," Tuesday,  Maffei said that Liberty is impressed with Charter's management team, led by CEO Tom Rutledge and praised its business plan.

"If opportunities arise for incremental acquisition, that's only a further benefit," Maffei told CNBC.

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