Charter Communications is poised to take advantage of further cable market consolidation, but whether it acquires systems or is itself acquired remains to be determined, according to Greg Maffei, CEO of Liberty Media. The latter recently invested $2.6 billion in Charter, receiving a 27.3% stake and obtaining four of its 11 board seats. "Whether Charter is a consolidator or a consolidatee, we'll see," Maffei said.

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