Comcast has named a new head of corporate development and strategy in Alexander Evans amid speculation that major MSOs in merger talks. Evans will join Comcast this month as an EVP. He will report to CFO Michael Angelakis. Evans hails from Providence Equity Partners, where he led the firm’s New York office and was global co-head of the communications sector. Comcast has tapped JPMorgan for advice as it evaluates a potential bid for the company as well, says a Reuters story.
Along with Charter Comm. and Cox Communications, Comcast has been looking into a bid for Time Warner Cable, the second-largest domestic cable company.
Time Warner Cable stocks has been steadily increasing this year over the takeover chatter.
Time Warner Cable named its own new mergers-and-acquisitions chief earlier this month. Christian Lee, currently vice president of investments, will assume the post at the end of the year.
While Charter is raising about $25 billion in debt financing as part of a potential bid for TWC, Comcast reportedly does not plan to make a pre-emptive bid for TWC, but could jump in if signs emerge that Charter is getting close to a deal.
Charter is also reportedly considering a joint deal with Comcast to acquire TWC together and split up its assets.
Comcast currently has 23 million video subscribers while Time Warner Cable has about 12 million. Charter has 4.2 million.