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Time Warner Cable boss Rob Marcus set for payday

Time Warner Cable's chief executive Rob Marcus is all set to receive a handsome payday.

Time Warner Cable boss Rob Marcus set for payday

Marcus last month saw a $45bn deal with the largest US cable operator, Comcast, slip away, but he is now preparing to announce a $55bn deal with Charter Communications, a smaller rival.

It is expected that the cash and stock deal would value shares in Time Warner Cable at $195 each, more than the $158.82 that was agreed with Comcast in February 2014.

Marcus, who is also chairman of Time Warner Cable, could receive $61.5m in golden parachute payments, according to Time Warner Cable's 2015 proxy statement.

The statement added that among the payments which Marcus is set to receive for a so-called change in control at the company are $40.3m in stock-based awards.

Besides Marcus, the top 5 executives at Time Warner Cable stand to collect as much as $120m, according to company filings.