Charter Nominates Time Warner Cable Board Slate

In a followup to its hostile bid, Charter puts forward 13 directors.

Charter Communications Inc. made its boldest move yet to buy Time Warner Cable Inc., nominating a full slate of board members as it seeks to usher the second-largest U.S. cable company to the bargaining table.

In addition to nominating 13 candidates to replace Time Warner Cable’s directors, Charter proposed amendments to the company’s bylaws, according to a statement today. The changes would limit expansion of the board and repeal bylaws adopted by directors after July 26, 2012.

Comcast Involvement?

Comcast Corp., the largest U.S. cable company, has examined buying some of Time Warner Cable’s markets, including New York City, New England and Charlotte, North Carolina, should Charter successfully complete a deal, people with knowledge of the matter said last month.

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