Time Warner Cable Has Shareholder Backing as Takeover Looms

Time Warner Cable Inc. is loathed by many consumers and loved by many investors. It’s shareholders who may give incoming Chief Executive Officer Rob Marcus the will to reject a $62 billion offer for the company.

Even as it has lost TV customers for almost five years, the New York-based company has delivered a total return of more than 462 percent since its spinoff from Time Warner Inc. in March 2009 -- gains that will help convince shareholders not to press for a sale. The returns have followed almost $7 billion in stock buybacks and net income that’s nearly doubled on the growth of the highly profitable Internet business.