Reuters logo
UPDATE 2-Charter loss widens on costs from Comcast-Time Warner Cable deal
2015年5月1日 / 下午1点18分 / 3 年前

UPDATE 2-Charter loss widens on costs from Comcast-Time Warner Cable deal

(Adds executive comments from call)

By Subrat Patnaik and Jennifer Saba

May 1 (Reuters) - Cable company Charter Communications Inc reported a bigger quarterly loss, hurt by costs from a failed deal between Comcast Corp and Time Warner Cable Inc that involved assets it was planning to buy.

The $45 billion deal fell through after U.S. regulators raised concerns that it would give Comcast an unfair advantage in the cable TV and Internet-based services market.

Still, Charter is being closely watched as potential suitor for Time Warner Cable. Reuters reported on Monday that Time Warner Cable was open to merger discussions with Charter, citing people familiar with the matter.

On a conference call, Charter executives did not discuss whether they would pursue Time Warner Cable, and analysts did not raise the subject.

Chief Executive Officer Tom Rutledge did say Charter was proceeding with its previously announced deal to buy cable operator Bright House Networks from the Newhouse family.

Time Warner Cable has right of first refusal for Bright House, which has an agreement for sharing programming rates.

Charter executives also said they were open to developing video streaming products similar to Netflix and to offering “skinny” packages that are cheaper for consumers than traditional cable bundles that include hundreds of channels.

The company said its first-quarter net loss widened to $81 million, or 73 cents per share, from $37 million, or 35 cents per share, a year earlier.

The loss includes $97 million of interest and operating expenses from the Comcast transaction financing.

Total operating costs rose about 9 percent.

Revenue rose 7.3 percent to $2.36 billion. Analysts on average had expected $2.37 billion, according to Thomson Reuters I/B/E/S.

Shares of Charter were down 0.4 percent at $186.23 in late morning trading. (Additional reporting by Lehar Maan in Bengaluru; Editing by Maju Samuel and Lisa Von Ahn)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below