When Time Warner Cable CEO Robert Marcus reported somewhat disappointing earnings in the fall, he acknowledged the proposed merger with Comcast and Time Warner Cable was going more “slowly” than expected. Motley Fool reports it might actually be “on thin ice, ” as there is talk among the analyst community that the FCC might not countenance the deal, and politicians are speaking out against the near monopoly.
It was estimated that Marcus, who served only 44 days before Comcast announced its plans to take over Time Warner Cable, could cash in on $80 million if the deal goes through, with $56.5 million in equity, $20.5 million in cash, and $400, 000, according to The Wrap. This means Marcus could get $2 million for every day he served as CEO prior to the proposed merger; CEO Neil Smit of Comcast’s cable division’s $5 million bonus is a paltry sum compared to that. However, the deal faces several headwinds.
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Craig Moffett, an analyst from Moffett Nathanson only gives the merger a 75% chance of happening. GigaOm said, “All bets are off, ” with protest from the industry, including a “Stop Mega Comcast” website. New York Mayor Bill de Blasio spoke out against the merger as anti-competitive, and would raise the price of internet access. Fifty other mayors around the country signed the petition.