15 Aug Charter Acquires of Time Warner, Brighthouse
At the beginning of this year, we made a prediction with our crystal ball that from within the telecom industry, there would be a fair number of buyouts, takeovers, mergers, etc.
In other words, we had formulated the hypothesis that only the giants (such as the likes of AT&T, Verizon, Comcast, etc.) would still be left standing and that all of the other smaller to medium sized vendors would just fall by the way side.
However, this is far from the truth. As we have reported throughout the year, the largest telecommunications companies have not eaten up all of the smaller vendors, and on the contrary, they are still scrambling to get more customers by wooing them with steep price discounts and new, hybrid types of solutions. Meanwhile, the smaller vendors are still growing.
Today, we bring you news of yet another buyout activity. Just last week it was announced that Charter has finally completed its acquisition of both Time Warner Cable and Bright House. With this under its belt, Charter now has a much greater reach when it comes to getting new customers.
For example, it has gained nearly an extra 160,000 miles of fiber optic cabling, as well as 75,000 new on-net buildings. It is predicted that by the end of the third quarter of this year, Charter will have reached 25.6 million new residential and small/medium sized business customers.
The financial picture for Charter also looks just as equally promising. For instance, its second quarter revenues were at $10 billion, which represents a 6.6% Year over Year (YoY) growth rate. Also, residential and customer revenue growth also escalated at rates of 5.6% and 13.4%, respectively.
According to Tom Rutledge, the CEO of Charter, about the acquisitions of Time Warner Cable and Bright House: “If you have a multi-site business, your ability to serve multi-sites with better footprint is improved, and so the commercial marketplace is also improved.” (SOURCE: https://www.fiercetelecom.com/telecom/charter-s-twc-bright-house-acquisitions-increases-medium-sized-business-customer-visibility).
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