Items tagged with (NASDAQ:CHTR)

For a long time, cable and satellite TV providers had customers in a vice grip. If someone wanted to watch premium channels, it was cable/satellite TV or bust. Like so many other things, the internet changed the game, and these days an increasing number of people are cutting the cord, as they say. With more streaming options available (and on the horizon), companies like AT&T and Charter Spectrum could feel the squeeze. Netflix and Hulu are the first two that come to mind, though they're far from the only options. CBS All Access is another streaming option, as are Sling TV and YouTube. The field is expanding, too—Disney recently launched it Disney+ service, and Apple rolled out its... Read more...
For a long time, big cable companies like Charter and Comcast were trying everything to prevent cord cutters from ditching cable TV programming packages and going with internet-only offerings. Those times have passed as the big cable companies, who are also often the only broadband internet providers in an area, have become indifferent on cable subscribers and have stopped offering the discounts customers were previously accustomed to. As the big cable companies are backing off on their discounts for plans, they are also increasing prices on their cable TV subscribers. Bloomberg mentions one subscriber who called Charter when his bill went up $40 monthly. Charter refused to offer any discounts... Read more...
Cable and satellite TV providers are losing customers, and it's not because any of the services are lacking in content. That is not the issue. Instead, an increasing number of customers are 'cutting the cord' and going with one or more streaming services. The primary reason for going that route is because streaming solutions are generally cheaper. This has been a threat to cable and satellite TV providers for a long time now. However, as services like Netflix, Hulu, Amazon Prime Video, and others add more content and options, the threat of losing customers to the cord-cutting movement gets bigger. The same holds true for broadband extending its reach into more areas, with faster speeds. What's... Read more...
Back in March, we brought you word that Charter was skating on thin icewith the State of New York for allegedly lying about Spectrum broadband deployments, and not living up to its promises to expand rural broadband as part of its 2016 merger with Time Warner Cable. Because of these misdeeds, the New York State Public Service Commission warned Charter that it could face franchise revocation in the state and additional penalties. Apparently, Charter has still failed to live up to its obligations because the Commission announced today they that it revoked its preliminary approval of the merger between Charter and Time Warner Cable in the state. This means that the company can no longer operate... Read more...
There is a lot of turmoil going on in the cable TV market right now, with plenty of shakeups taking place. The wild swings in the marketplace and rise of companies like Amazon, Google, and Facebook with regards to video delivery is precisely why AT&T is looking to hook up with Time Warner to better compete. Quarterly earnings are in for some of America's top cable providers, and the numbers aren't looking good with respect to subscriber counts. Charter reported that it lost 122,000 video subscribers for its most recently completed quarter. What's interesting is that this figure is far above the 43,000 loss that analysts were predicting. Things weren't much better at Comcast, which lost 96,000... Read more...
In the latest case of cable companies behaving badly, Charter has come under fire from the New York State Public Service Commission. Charter has been on a mission to expand its nationwide footprint, and to do so, it reached agreements to acquire both Time Warner Cable and Bright House Networks earlier decade. In order to gain regulatory approval for the acquisitions, Charter had to meet certain obligations with respect to building out its broadband network. Unfortunately for Charter, the Commission has found that the company has been untruthful about these efforts to expand service. The Commission says that Charter agreed to add 145,000 households and businesses within four years to its network,... Read more...
The only people who think data caps are a good things are the ISPs that make huge amounts of money by charging customers each month for overages. While ISPs with data caps are in the minority, new research from a company called BroadbandNow has surveyed every internet provider out there and found that out of all the ISPs in its database (over 2,500), 196 of them have imposed data caps. The data caps vary regionally, meaning that some providers will have smaller or larger data allotments in different areas. While 196 providers out of around 2,500 sounds small, the carriers on the list imposing data caps are some of the largest in the country, meaning that large numbers of Internet users are subject... Read more...
The people of New York state are taking Charter to court. New York Attorney General Eric Schneiderman’s office is suing Charter-owned Spectrum (previously Time Warner Cable) for knowingly failing to live up to its promise of ‘blazing fast’ and ‘super reliable’ service. Schneiderman remarked, “The allegations in today's lawsuits confirm what many of you have long suspected: Spectrum-Time Warner has been ripping you off”. Schneiderman conducted a statewide study in 2015 to measure broadband speeds after receiving thousands of complaints from Time Warner Cable customers. The study discovered that at least 640,000 customers who signed up for high-speed internet received much slower speeds. It was... Read more...
Nearly a year ago, federal regulators approved Charter’s bid to purchase rival telecom company Time Warner Cable. The $55 billion dollar deal rocketed Charter from the fourth-place position in the U.S. cable market to second place behind Comcast. Now, it looks like an even bigger fish is swimming around looking to gobble up the newly engorged Charter: Verizon. According to sources close to the matter, Verizon CEO Lowell McAdam has reached out to Charter executives to discuss a possible acquisition. The Wall Street Journal cautions that these are just preliminary talks and that there is no guarantee that a deal will be struck between the two companies. In the event that a deal does in fact go... Read more...
It might be just a tad early for Charter Communications to pop the champagne, but it can certainly have an intern fetch the bubbly in preparation of a celebration. The U.S. Department of Justice laid out settlement terms of an antitrust suit that would allow Charter to forge ahead with its proposed acquisitions of Time Warner Cable and Bright House Networks. The Department of Justice attached several conditions to its settlement, the biggest being that Charter would not be allowed to enter into or enforce agreements that would make it more difficult for online video services like Netflix and Hulu to purchase video content from programmers. It's a tactic the agency feared Charter would be in a... Read more...
A Bloomberg report that came out on Memorial Day was right on the money when it came to Charter’s ambitions to take on cable juggernaut Comcast. Bloomberg learned that Charter would scoop up Time Warner Cable (TWC) for $195 per share, valuing the transaction at roughly $55 billion. Charter confirmed the acquisition this morning, valuing each TWC share at approximately $195.71. The transaction has an equity value of $55.76 billion, but TWC has long-term debt of $22.64 billion which value the entire whole shebang at over $78 billion. The TWC acquisition will vault Charter from fourth place in the U.S. cable market to second place, right behind Comcast. The combined companies will have an estimated... Read more...
Comcast came up as the biggest loser in its failed bit to acquire rival Time Warner Cable (TWC) for $45 billion. Comcast wasted over $30 million on lobbying and tucked its tail between it legs once it became clear that U.S. regulatory agencies would not approve the merger. Comcast’s loss is now Charter’s gain according to a fresh report from Bloomberg. We first heard of Charters inklings to cozy up with TWC back in late April, but it appears that the relationship has gotten especially serious in recent days. The news agency has learned that Charter is willing to pay around $195 per share (a 14 premium over TWC’s last closing price). The stock and cash deal is estimated to be worth $55.1 billion,... Read more...
It's nice to feel wanted, isn't it? Time Warner Cable knows the feeling. The cable company has been courted by numerous bidders in recent months, and though a $45 billion merger with Comcast ultimately fell apart due to regulatory concerns, it would be surprising if a deal didn't happen. In addition to Charter and Cablevision showing interest, we can now add Altice SA to what seems like a growing list of suitors.According to Reuters, the French telecommunications group has been in talks to buy TWC and is also close to acquiring Suddenlink. Altice SA wants desperately to move into the U.S. cable market, and buying out existing players would be the quickest way to do that. It's also an expensive... Read more...
Federal regulators put into a motion a legal process that would have made it very difficult for Comcast to proceed with its blockbuster plan to acquire Time Warner Cable (TWC) for $45 billion, and as a result of Comcast pulling out of the proposed buyout, Bright House Networks has abandoned its own plans of merging with Charter.The deals were intertwined in hopes of appeasing antitrust concerns. As constructed, if Comcast received approval to buy TWC, it would sell 1.4 million subscribers to Charter for $7.3 billion. Comcast would also divest 2.5 million subscribers as part of a spinoff into a new cable company called GreatLand Connections, of which Charter would own a stake.Image Source: Flickr... Read more...
Comcast's proposed $45.2 billion acquisition of Time Warner Cable hit a brick wall when the Federal Communications Commission recommended what's called a "hearing designation order," a procedural move that tasks an administrative law judge to determine if a merger would be in the best interest of the people. Rather than go down that road, Comcast bailed on the deal, taking a $32 million hit in the process. As to Time Warner Cable, it looks as though Charter may make a run at the cable company.There are multiple reports that Charter is formulating a plan to bid on TWC, and if accepted, it would create a cable giant with 15.6 million video subscribers and 16.4 million broadband customers. For the... Read more...
Was your high-speed Internet service acting wonky yesterday? Are you a Charter customer? If you answered 'yes' to both questions, you're not alone. It appears that Charter, the nation's fourth largest cable operator, suffered a widespread outage in broadband Internet service starting on late Saturday afternoon and continuing into the night. This editor happens to reside in southwest Michigan and was affected by the outage, as were residents of Minnesota, North Carolina, South Carolina, and several other states. According to Charter spokeswoman Kim Haas, the service disruptions were "intermittent across parts of our footprint." Charter offers fast Internet service, but last night, a widespread... Read more...
Comcast is highly motivated to complete a $45 billion deal to acquire Time Warner Cable. So much, in fact, that Comcast has come to a separate agreement with Charter Communications to get rid of 3.9 million of subscribers, which is contingent on the TWC merger taking place. It's Comcast's hope that divesting itself of subscribers will be enough to ease regulatory concerns over its deal with TWC. According to a report in The Wall Street Journal, Comcast agreed to sell 1.4 million existing TWC customers to Charter for around $7.3 billion in cash. In addition, Comcast would create a new publicly traded company made up of another 2.5 million existing Comcast subscribers. The new cable company would... Read more...