Charter, Time Warner's New Owner, Loses 152,000 TV Subscribers
Posted in: UncategorizedCharter Communications, whose purchase of Time Warner Cable and Bright House Networks this year made it the second-largest U.S. cable provider, posted second-quarter revenue that beat analysts’ estimates after adding internet users.
Revenue rose 6.6% to $10 billion, the cable operator backed by billionaire John Malone said in a statement Tuesday. Analysts anticipated $9.94 billion, the average of projections compiled by Bloomberg.
Charter won final regulatory approval in May for its $55 billion takeover of Time Warner Cable and Bright House Networks, a smaller cable provider. Stamford, Conn.-based Charter gained 13 million customers in cities like New York, Los Angeles and Dallas, and now ranks behind only market leader Comcast Corp.
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