Michael Willner To Serve As President & CEO Of "SpinCo" - Quick Facts

(RTTNews) - Charter Communications, Inc. (CHTR) and Comcast Corp. (CMCSA, CMCSK) said the former Insight Communications, Inc. Co-founder and Chief Executive and 40-year cable industry veteran Michael Willner would serve as President and Chief Executive of "SpinCo," the new cable company that would be spun off from Comcast following completion of the Comcast, Time Warner Cable merger and the Comcast, Charter transactions. Willner would head the operations of SpinCo, that would serve nearly 2.5 million customers in Alabama, Indiana, Kentucky, Michigan, Minnesota, Tennessee and Wisconsin.

SpinCo would have a 9-member board, three of whom would be named by Charter, including Charter President and CEO, Tom Rutledge, who would serve as the non-executive Board Chairman. Comcast would appoint 3 of the remaining 6 board members and would select 3 more from a list provided by Charter. These six board members would remain independent of both Charter and Comcast. Further, Charter would have a services agreement with SpinCo.

Willner was a co-founder and CEO of Insight Communications from 1985 through 2012, when Insight was sold to Time Warner Cable. Willner twice served as Chairman of the National Cable and Telecommunications Association or NCTA.