Light Reading
Comcast proposes up to $135 million in 'golden parachute compensation' for senior Time Warner Cable executives if the merger of the two companies is successfully completed.

TWC Execs' Prize? A Cool $135M

Mari Silbey
3/21/2014
100%
0%

Glenn Britt may have left Time Warner Cable just a few months too soon. That's because new TWC Chairman and CEO Rob Marcus could be in for a very big payday if Comcast succeeds in buying out the company, according to a Securities and Exchange Commission document that Comcast filed Thursday.

If Marcus doesn't stay on at the new combined entity, he could be entitled to nearly $80 million in cash, equity, and other benefits, according to the Securities and Exchange Commission (SEC) filing. Add in the proposed payouts to Time Warner Cable Inc. (NYSE: TWC) CFO Arthur Minson, CTO Mike LaJoie, and business services chief Phil Meeks and the "golden parachute compensation" for the four members of the TWC executive team could total $134,964,288. For simplicity's sake, let's round that up to a cool $135 million.

To be fair, Comcast Corp. (Nasdaq: CMCSA, CMCSK) notes in the SEC filing that its dollar figures are "estimated based on multiple assumptions that may or may not actually occur." At this point, however, the MSO has already said that current Comcast Cable President and CEO Cable Neil Smit would be in charge of the newly merged company if the acquisition closes, and there's only room for so many cooks in the kitchen. The SEC document has Minson receiving just over $27 million in compensation, LaJoie getting $16.3 million, and Phil Meeks taking home $11.7 million.

Of course, there are still hurdles ahead before Comcast can make good on its plan to buy Time Warner Cable for $45 billion, plus another $24 billion in assumed debt. Shareholders have to vote on the deal, and regulators have to give their blessing.

Multiple states, including Florida, are joining with the Antitrust Division of the U.S. Department of Justice for its antitrust review according to Reuters, and the Federal Communications Commission (FCC) must also approve the merger. Plus, the Senate Committee on the Judiciary will hold a hearing to examine the impact of a deal on consumers on April 2.

Related posts:

— Mari Silbey, special to Light Reading

(3)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View
danielcawrey
50%
50%
danielcawrey,
User Rank: Light Sabre
3/23/2014 | 4:00:43 PM
Re: $80M
Who says cable is a dying business? Not these guys. With that kind of money, there must be an assumption that somehow piping video into homes the old way somehow has futuristic prospects. 

Well, they at least still have live sports. And broadband, always the broadband. 
kq4ym
50%
50%
kq4ym,
User Rank: Light Sabre
3/23/2014 | 1:54:59 PM
Re: $80M
While there's a lot of opposition to the mergers, I'll bet (a wager of somewhat less than $135M) that the giant companies will eventually get the go ahead. With stakes that high for bonus money, there's bound so be some heavy duty lobbying to make it a go.
Mitch Wagner
50%
50%
Mitch Wagner,
User Rank: Lightning
3/21/2014 | 5:19:24 PM
$80M
I'd like to get a few million dollars to quit my job. 

I was once offered ten dollars to leave a party. Not the same. 
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 Custom TV
Advantech Accelerates 100G Traffic Handling

10|17|14   |   7:56   |   (0) comments


Paul Stevens from Advantech explains why handling 100GbE needs a whole new platform design approach and how Advantech is addressing the needs of equipment providers and carriers to give them the flexibility and performance they will need for SDN and NFV deployment.
LRTV Huawei Video Resource Center
Holland's Imtech Traffic & Infra Discusses Huawei's ICT Solution and Services

10|16|14   |   4:49   |   (0) comments


Dimitry Theebe is from the business unit at Imtech Traffic & Infra which delivers communications solutions for transportations. His partnershp with Huawei began about a years ago. In this video, Theebe speaks more about this partnership and what he hopes to accomplish with Huawei.
LRTV Huawei Video Resource Center
Huawei's Comprehensive Storage Solutions Vital for SVR

10|16|14   |   6:16   |   (0) comments


SVR Information Technology provides cloud services for academic and special sectors. With Huawei's support, SVR and Yildiz Technical University has established Turkey's largest and most advanced High Performance Computing system. CSO Ismail Cem Aslan talks about what he hopes Huawei's OceanStor storage system will bring for him.
LRTV Huawei Video Resource Center
Mexico's Servitron's Impression of Huawei at CCW 2014

10|16|14   |   6:35   |   (0) comments


Servitron is a network operator in Mexico that has been in the trunking industry for the past 20 years. Its COO, Ing. Ragnar Trillo O., explains at Critical Communications World 2014 that his company has been interested in the long-term evolution of LTE technology and its adoption for TETRA.
LRTV Huawei Video Resource Center
Building a Better Dubai

10|16|14   |   2:06   |   (0) comments


Abdulla Ahmed Al Falasi is the director of commercial affairs, a telecommunications coordinator for the government of Dubai. Their areas of service span across multiple industries, including police, safety, shopping malls and more. In this video, Abdulla talks about his department's work with Huawei.
LRTV Huawei Video Resource Center
Huawei Lights Up Malaysia Partner Maju Nusa

10|16|14   |   1:59   |   (0) comments


Malaysia's Maju Nusa is an enterprise partner to Huawei in networking, route switches and telco equipment. At this year's Critical Communications World in Singapore, CTO Pushpender Singh talks about what Huawei's eLTE solutions mean to his company and for Malaysia.
LRTV Custom TV
Evolving From HFC to FTTH Networks

10|15|14   |   2:19   |   (0) comments


Cisco's Todd McCrum delves into the future of cable's HFC plant, examining how DOCSIS 3.1 and advanced video compression will extend its life and how the IP video transition will usher in GPON and EPON over FTTH.
LRTV Custom TV
Exploring the Future of Cable Access

10|15|14   |   6:23   |   (0) comments


Cisco's Brett Wingo looks at where cable access architectures are heading, discussing the impact of DOCSIS 3.1, CCAP, Remote PHY, SDN, virtualization of cable networks and related technologies.
LRTV Custom TV
Optimizing & Monetizing WiFi

10|15|14   |   5:53   |   (0) comments


Cisco's Vince Pandolfi outlines the reasons for cable WiFi's rapid growth, lays out the issues with the technology and explains the new Cisco tools that can help operators monitor and improve their WiFi delivery.
LRTV Huawei Video Resource Center
Emulex & Huawei Collaboration Mutually Beneficial

10|14|14   |   4:17   |   (0) comments


US company Emulex collaborates with Huawei in areas such as blade servers and workload documentation. Mike Heumann of Emulex believes that Huawei has done incredibly well moving from a telecom company into servers and networks, working closely with customers to realize their needs.
LRTV Huawei Video Resource Center
Chile's VZION Looks Forward to Seeing More of Huawei

10|14|14   |   4:43   |   (0) comments


VZION is a systems integrator company in Chile with a focus on virtulization technology. In this video, Cesar Alcacibar talks about the challenges in virtualization and how Huawei helps his company to achieve the best results possible. Alcacibar is expecting more adoption and integration of Huawei technologies in Chile.
LRTV Huawei Video Resource Center
Pro-Datech & Huawei for a High-Tech Singapore

10|14|14   |   2:59   |   (0) comments


Pro-Datech Systems is a specialty IT solution provider based in Singapore. For an added value to its customers, the company uses Huawei's hardware and trusted performance and features for a total solution. It's looking forward to the creation of a lab, to be based in Singapore, for the two companies' coorporation on total storage solution.
Upcoming Live Events
October 29, 2014, New York City
November 6, 2014, Santa Clara
November 11, 2014, Atlanta, GA
December 2, 2014, New York City
December 3, 2014, New York City
December 9-10, 2014, Reykjavik, Iceland
June 9-10, 2015, Chicago, IL
Infographics
WhoIsHostingThis.com presents six of the world's most extreme WiFi hotspots, enabling the most epic selfies you can imagine.
Hot Topics
Forget the Internet, Brace for Skynet
Stephen Saunders, 10/15/2014
HBO Will Go OTT in 2015
Mari Silbey, Independent Technology Editor, 10/15/2014
Google: Carriers & Cloud Providers Need to Cooperate
Mitch Wagner, West Coast Bureau Chief, Light Reading, 10/16/2014
CBS Takes OTT Plunge
Mari Silbey, Independent Technology Editor, 10/16/2014
Could Data Be the New 'Currency'?
Ray Le Maistre, Editor-in-chief, 10/16/2014
Like Us on Facebook
Twitter Feed