Comcast Corp. (CMCSA:US) and Charter Communications Inc. (CHTR:US) appointed Michael Willner, the co-founder of Insight Communications Inc., as the chief executive officer of the new cable carrier they’re creating.
Willner was CEO of Insight, one of the 10 biggest U.S. cable operators, until 2012 when he sold the company to Time Warner Cable Inc., according to a statement today. Since then, he has been CEO of closely held Penthera Partners, a software licensing venture focused on cloud-to-mobile technology. He also was the chairman of the National Cable and Telecommunications Association twice.
Comcast is planning to spin off operations that serve about 2.5 million customers in Alabama, Indiana, Michigan and other states after completing the purchase of Time Warner Cable.
The spinoff is part of a plan to help ease the path for regulatory approval of the Time Warner Cable deal, and Charter will hold a 33 percent stake in the new company. It was also announced today that Charter CEO Tom Rutledge will be the non-executive chairman of the spinoff.
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