Liberty Media's John Malone: We've had 4 approaches for Charter 11:16 AM ET Thu, 16 Nov 2017 | 06:31
Charter Communications director John Malone tells CNBC several firms have talked to the cable company about a potential merger or acquisition.
The company has received "four different approaches," Malone said in an exclusive interview with CNBC's David Faber Thursday at the Liberty Media annual investor meeting.
"The problem is none of them at this point have made a pitch that was worthy of bringing it to the board and proposing it seriously to the board."
He mentioned the names of executives from Altice, Softbank and Verizon as potential acquirers of Charter. When Faber asked for the identity of the fourth company, Malone said "I'm not going to tell ya."
The investor explained the company has valued Charter's business using growth projections for the next four to five years. The company would need to see a bid above this internal estimate on a risk-adjusted basis to consider a sale.
"We have a wonderful business and wonderful business plan," he said. "Anything I'm involved in is for sale every day of the week. The store is always open … Have we seen anything yet that gets even close to ringing the bell? No."
Charter shares rose off its low after Malone's remarks aired on CNBC. The stock is up 1 percent Thursday morning.
"Nobody has made any real or official offers," Charter CEO Thomas Rutledge said later.
Malone is widely respected as one of the most astute deal makers in the media and cable industries.