Final Note

Time Warner Cable’s CEO could be out $80 million

Kai Ryssdal Apr 23, 2015
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Final Note

Time Warner Cable’s CEO could be out $80 million

Kai Ryssdal Apr 23, 2015
HTML EMBED:
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A couple of details on the likely demise of the Comcast-Time Warner Cable deal.

Item number one: Comcast isn’t going to have to pay the usual breakup fee — the 2 to 5 percent of the sale price that the would-be acquire-er normally pays to the would-be acquire-ee if things go south. It just wasn’t in the original paperwork, says Fortune Magazine.

Also, Time Warner Cable CEO Robert Marcus would have gotten an $80 million exit package if the deal had gone through. Or, to look at it another way: more than a million dollars a day for the 45 days from the time Marcus took over to the day the merger was announced.

Sorry about that, Mr. Marcus.

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