D.C. Memo: Charter's Costly Stock Buybacks

Stock Hit Five-Year Low Last Week; CEO Buying For Himself First Time In Two Years

Margin of Safety?: Since 2020, Charter Communications – starting with CEO Tom Rutledge and then his successor Christopher Winfrey – has spent $44.7 billion in cash to buy back 79.2 million shares at an average price of $535.

Charter shares closed last Friday at $283.78, which means Charter’s stock repurchase gambol has cost shareholders a massive $22.5 b…