Light Reading
Time Warner Cable Treasurer Matthew Siegel will become CFO of 'SpinCo,' the new spin-off company that Comcast plans to create after completing the TWC acquisition.

SpinCo Gets a CFO

Mari Silbey
6/16/2014
50%
50%

It's a game of cable round robin.

With the pending merger of Comcast Corp. (Nasdaq: CMCSA, CMCSK) and Time Warner Cable Inc. (NYSE: TWC), a number of familiar cable faces are taking on new industry roles. (See Comcast Filings Show Merger Confidence and Comcast-TWC Deal: Playing All the Numbers.)

In the latest news, Charter Communications Inc. and Comcast have announced that current TWC Senior Vice President and Treasurer Matthew Siegel will become chief financial officer of "SpinCo," the placeholder name for the new spin-off company that Comcast plans to create after completing the acquisition of Time Warner and completing the Comcast/Charter transactions.

Siegel has been with Time Warner Cable since 2008, and served as vice president and assistant treasurer at Time Warner Inc. in the seven years prior. Before moving to Time Warner, he was senior vice president of finance and treasurer of Insight Communications.

Siegel isn't the only Insight veteran joining SpinCo. Just last month, Charter and Comcast named former Insight Chief Executive Officer Michael Willner as the new SpinCo CEO. Willner will head up the new company, which will include approximately 2.5 million subscribers spun off from Comcast in the Midwest. (See Charter/Comcast Tap Willner for Spinoff.)

Meanwhile, in other Time Warner Cable news, current CTO Mike LaJoie has confirmed his original plan to retire at the end of 2014. Multichannel News obtained a TWC memo where LaJoie was quoted as saying about his retirement: "Recent events have made this decision more complicated, but after careful consideration, I intend to stay with that plan." LaJoie was referring to the recent death of former TWC CEO and friend Glenn Britt. (See Glenn Britt Dies From Cancer.)

By retiring at only 60 years old, LaJoie is leaving the door open for a possible return to the cable industry in the future. However, with a proposed $16 million payout resulting from the Comcast acquisition, LaJoie will have plenty of financial flexibility even if he chooses to stay in retirement. (See TWC Execs' Prize? A Cool $135M.)

— Mari Silbey, special to Light Reading

(6)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
wanlord
50%
50%
wanlord,
User Rank: Light Sabre
6/25/2014 | 4:11:09 PM
Re: Cushy or complicated?
Some telecoms used this name quite often when creating and spinning off parts of the company. Sounds like a cool name for a Stationary Bike Fitness Center !
thebulk
50%
50%
thebulk,
User Rank: Light Sabre
6/17/2014 | 2:44:53 PM
Re: Cushy or complicated?
Its definatly a shady name, would you really trust a company named SpinCo? 
KBode
50%
50%
KBode,
User Rank: Light Sabre
6/17/2014 | 8:37:45 AM
Re: Cushy or complicated?
Yeah somehow "Spinco" sounds shady and incomplete, even if a temporary name. I agree not a great sales pitch to regulators.
thebulk
50%
50%
thebulk,
User Rank: Light Sabre
6/17/2014 | 1:22:16 AM
Re: Cushy or complicated?
In the end they will probably just end up sticking with SpinCo because they will decide it already has a brand value attached to it.
danielcawrey
50%
50%
danielcawrey,
User Rank: Light Sabre
6/16/2014 | 5:51:27 PM
Re: Cushy or complicated?
I wonder what they are going to call this new entity? 

You would think given the amount of money and effort put into this, there would be a better name than "SpinCo". I mean, I know its only temporary. But one would think there should be some strategic planning going on here. 
KBode
50%
50%
KBode,
User Rank: Light Sabre
6/16/2014 | 3:40:55 PM
Cushy or complicated?
I can't tell if it's a good or bad gig to helm a spinoff company where your only job will be to make everythig look good before Charter inevitably buys the company in two years. Or sooner, depending on how quickly peoples' memory fades of why they're having to create this third entity to begin with....
Flash Poll
From The Founder
It's clear to me that the communications industry is divided into two types of people, and only one is living in the real world.
LRTV Huawei Video Resource Center
Dr. Dong Sun Talks About Carriers' Digital Transformation & Huawei’s Telco OS

1|29|15   |   6:28   |   (0) comments


Dr. Dong Sun, Chief Architect of Digital Transformation Solutions at Huawei, discusses how telecom operators can become digital ecosystem enablers and deliver optimal user experiences that are in real-time, on-demand, all-online, DIY and social (ROADS).
LRTV Huawei Video Resource Center
Huawei's Chief Network Architect Talks about Network Experience & Operators’ Strategies

1|29|15   |   3:39   |   (0) comments


In the digital age, network experience has become the primary productivity especially for telecom operators. In this video, Wenshuan Dang, Huawei’s Chief Network Architect, discusses how carriers can tackle the challenge of infrastructure complexity in order to enhance business agility and improve user experience.
LRTV Documentaries
The Rise of Virtual CPE

1|27|15   |   01:38   |   (5) comments


As NFV strategies evolve from tests and trials to production telco networks, expect to hear a lot about virtual CPE (customer premises equipment) rollouts during 2015.
LRTV Documentaries
Optical Is Hot in 2015

1|23|15   |   01:56   |   (2) comments


Optical comms technology underpins the whole communications sector and there are some really hot trends set for 2015.
LRTV Custom TV
Policy Control in the Fast Lane

1|22|15   |   2:57   |   (0) comments


What's making policy control strategic in 2015 and beyond? Amdocs talks with Heavy Reading's Graham Finnie about the key factors driving change in the data services landscape. Find out what his policy management research reveals about the road ahead for policy control – and sign up for
LRTV Documentaries
Highlights From the 2020 Vision Executive Summit

1|21|15   |   4:33   |   (2) comments


In December 2014, Light Reading brought together telecom executives in Reykjavik, Iceland to discuss their vision for high-capacity networks through the end of the decade. The intimate, interactive meeting was set against the backdrop of Iceland's spectacular natural beauty. As one of the event's founding sponsors, Cisco's Doug Webster shared his company's ...
LRTV Huawei Video Resource Center
Huawei Pay-TV Partner Harmonic, Helping Carriers Accelerate 4K Video Deployment with Huawei

1|20|15   |   5:42   |   (1) comment


At IBC, Peter Alexander, Senior Vice President & CMO at Harmonic, speaks about the growing interest in pay-TV service and its branching into multiple devices.
LRTV Huawei Video Resource Center
Sony Marketing Director Olivier Bovis Discusses the Outlook for 4K and Cooperation With Huawei at IBC 2014

1|20|15   |   6:50   |   (0) comments


At IBC, Olivier Bovis, Marketing Director of Sony, speaks about the coming of the 4K era.
LRTV Huawei Video Resource Center
Huawei Pay-TV Partner Envivio, Helping Carriers Accelerate 4K Video Deployment

1|20|15   |   2:57   |   (0) comments


At IBC, Olivier Bovis, Marketing Director of Sony, speaks about the coming of the 4K era.
LRTV Huawei Video Resource Center
Pay-TV's Networked Future

1|20|15   |   6:29   |   (0) comments


At IBC, Jeff Heynen, Principal Analyst at Infonetics, speaks about the future of the pay-TV industry and its transition.
LRTV Huawei Video Resource Center
Jeff Heynen: Distributed Access Will Help MSOs Compete in the Future

1|20|15   |   2:26   |   (0) comments


At IBC, Jeff Heynen, Principal Analyst at Infonetics, speaks about moving to distributed access and the future trend of cable business.
LRTV Interviews
Cisco Talks Transformation

1|20|15   |   13:02   |   (0) comments


In December 2014, Steve Saunders sat down with Cisco VP of Products & Solutions Marketing Doug Webster at Light Reading's 2020 Vision executive summit in Reykjavik, Iceland. They spoke about Cisco's approach to network virtualization as well as how service providers can begin to monetize high-capacity networks through the end of the decade.
Upcoming Live Events
February 5, 2015, Washington, DC
February 19, 2015, The Fairmont San Jose, San Jose, CA
March 17, 2015, The Cable Center, Denver, CO
April 14, 2015, The Westin Times Square, New York City, NY
May 12, 2015, Grand Hyatt, Denver, CO
May 13-14, 2015, The Westin Peachtree, Atlanta, GA
June 8, 2015, Chicago, IL
June 9-10, 2015, Chicago, IL
June 9, 2015, Chicago, IL
September 9-10, 2015, The Westin Galleria Dallas, Dallas, TX
September 29-30, 2015, The Westin Grand Müchen, Munich, Germany
November 11-12, 2015, The Westin Peachtree Plaza, Atlanta, GA
December 1, 2015, The Westin Times Square, New York City
December 2-3, 2015, The Westin Times Square, New York City
Infographics
Hot Topics
Google Continues Gigabit Expansion
Jason Meyers, Senior Editor, Gigabit Cities/IoT, 1/27/2015
Comcast Apologizes to 'A**hole' Brown
Mitch Wagner, West Coast Bureau Chief, Light Reading, 1/29/2015
Cablevision's New WiFi Try – Freewheeling Enough?
Mari Silbey, Independent Technology Editor, 1/26/2015
Overture Builds on NFV Foundation
Mitch Wagner, West Coast Bureau Chief, Light Reading, 1/27/2015
Bumper iPhone Sales Boost Apple Profits
Iain Morris, News Editor, 1/28/2015
Like Us on Facebook
Twitter Feed
Webinar Archive
BETWEEN THE CEOs - Weekly Executive Interview
Join us live for Light Reading's interview with Jay Samit, the newly appointed CEO of publicly traded SeaChange International Inc. With a resume that includes Sony, EMI, and Universal, Samit brings a reputation as an entrepreneur and a disruptor to his new role at the video solutions company. Hear what he has to say about the opportunities in video, as well as the outlook for cable, telco, OTT and mobile service providers.