Latest news with #ChrisWinfrey
Yahoo
a day ago
- Business
- Yahoo
Q1 Earnings Highlights: Charter (NASDAQ:CHTR) Vs The Rest Of The Wireless, Cable and Satellite Stocks
Quarterly earnings results are a good time to check in on a company's progress, especially compared to its peers in the same sector. Today we are looking at Charter (NASDAQ:CHTR) and the best and worst performers in the wireless, cable and satellite industry. The massive physical footprints of cell phone towers, fiber in the ground, or satellites in space make it challenging for companies in this industry to adjust to shifting consumer habits. Over the last decade-plus, consumers have 'cut the cord' to their landlines and traditional cable subscriptions in favor of wireless communications and streaming video. These trends do mean that more households need cell phone plans and high-speed internet. Companies that successfully serve customers can enjoy high retention rates and pricing power since the options for mobile and internet connectivity in any geography are usually limited. The 8 wireless, cable and satellite stocks we track reported a mixed Q1. As a group, revenues were in line with analysts' consensus estimates while next quarter's revenue guidance was 0.7% below. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.2% since the latest earnings results. Operating as Spectrum, Charter (NASDAQ:CHTR) is a leading telecommunications company offering cable television, high-speed internet, and voice services across the United States. Charter reported revenues of $13.74 billion, flat year on year. This print was in line with analysts' expectations, but overall, it was a mixed quarter for the company with a decent beat of analysts' EBITDA estimates but a miss of analysts' EPS estimates. "We continue to execute on our long-held strategy of delivering the best network and products, at the best value, combined with unmatched service," said Chris Winfrey, President and CEO of Charter. The stock is up 17% since reporting and currently trades at $391.75. Is now the time to buy Charter? Access our full analysis of the earnings results here, it's free. Formerly known as American Cable Systems, Comcast (NASDAQ:CMCSA) is a multinational telecommunications company offering a wide range of services. Comcast reported revenues of $29.89 billion, flat year on year, in line with analysts' expectations. The business had a satisfactory quarter with a decent beat of analysts' EPS estimates but a miss of analysts' domestic broadband customers estimates. However, the results were likely priced into the stock as it's traded sideways since reporting. Shares currently sit at $34.66. Is now the time to buy Comcast? Access our full analysis of the earnings results here, it's free. Based in Long Island City, Altice USA (NYSE:ATUS) is a telecommunications company offering cable, internet, telephone, and television services across the United States. Altice reported revenues of $2.15 billion, down 4.4% year on year, in line with analysts' expectations. It was a slower quarter as it posted a significant miss of analysts' EPS and adjusted operating income estimates. As expected, the stock is down 14.4% since the results and currently trades at $2.26. Read our full analysis of Altice's results here. Founded in 1986, Cable One (NYSE:CABO) provides high-speed internet, cable television, and telephone services, primarily in smaller markets across the United States. Cable One reported revenues of $380.6 million, down 5.9% year on year. This result lagged analysts' expectations by 1.5%. It was a slower quarter as it also recorded a miss of analysts' adjusted operating income and residential video subscribers estimates. Cable One had the weakest performance against analyst estimates among its peers. The stock is down 45% since reporting and currently trades at $144.56. Read our full, actionable report on Cable One here, it's free. Known for its commercial-free music channels, Sirius XM (NASDAQ:SIRI) is a broadcasting company that provides satellite radio and online radio services across North America. Sirius XM reported revenues of $2.07 billion, down 4.3% year on year. This print missed analysts' expectations by 0.6%. Aside from that, it was a mixed quarter as it also logged a decent beat of analysts' EBITDA estimates. The stock is up 1.2% since reporting and currently trades at $21.65. Read our full, actionable report on Sirius XM here, it's free. In response to the Fed's rate hikes in 2022 and 2023, inflation has been gradually trending down from its post-pandemic peak, trending closer to the Fed's 2% target. Despite higher borrowing costs, the economy has avoided flashing recessionary signals. This is the much-desired soft landing that many investors hoped for. The recent rate cuts (0.5% in September and 0.25% in November 2024) have bolstered the stock market, making 2024 a strong year for equities. Donald Trump's presidential win in November sparked additional market gains, sending indices to record highs in the days following his victory. However, debates continue over possible tariffs and corporate tax adjustments, raising questions about economic stability in 2025. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
21-05-2025
- Business
- Bloomberg
Love Letter, Late Night Ice-Cream: How Charter Finally Wooed Cox
One of the biggest deals of the year so far started around Valentine's Day, with a love letter. Chris Winfrey, the chief executive officer of cable giant Charter Communications Inc., wrote to his counterpart at Cox Communications Inc. with a proposal: If Cox was at all interested in combining the two companies, now was the time to move. The stars, he said, were finally aligned.
Yahoo
20-05-2025
- Business
- Yahoo
Charter and Cox's big cable-TV merger will ramp up the Spectrum brand in the cord-cutting era
On Friday, cable companies Charter Communications and Cox Communications announced that they've agreed to merge. Charter will acquire Cox in a deal valued at $34.5 billion. Housing market shift explained—and where it's happening the fastest 4 free Coursera courses to jump-start your AI journey Rite Aid is closing 95 more stores after selling assets to CVS and others: See the full list of locations across 6 states This is one of the biggest deals of the year. Charter, known more widely by its brand Spectrum, is one of the largest television communications operators in the country. The proposed transaction will result in Charter acquiring Cox's commercial fiber and managed IT and cloud businesses, and Cox will contribute its residential cable business to Charter. The joint press release noted that the merger will 'create an industry leader in mobile and broadband communications services, seamless video entertainment, and high-quality customer service delivering powerful benefits for American employees, customers, communities, and shareholders.' Charter CEO Chris Winfrey said, 'This combination will augment our ability to innovate and provide high-quality, competitively priced products, delivered with outstanding customer service, to millions of homes and businesses.' Cox will own around 23% of the combined entity's fully diluted shares, the companies said. As part of the deal, the combined entity will assume Cox's estimated $12 billion in outstanding debt. Charter (NYSE: CHTR) stock was up around 2.58% in early trading on Friday. Cox is a privately held company. The deal is expected to close at the same time as the previously announced Liberty Broadband merger. The combined company will change its name to Cox Communications within a year of the deal closing. Spectrum will become the consumer-facing brand in the areas currently served by Cox. Winfrey will continue to serve as CEO. The combined company will remain headquartered in Stamford, Connecticut, and plans to maintain a significant presence at Cox's campus in Atlanta. Why is this strategic merger being announced? Cable companies have experienced dwindling pay-TV subscriber rates as customers 'cut the cord' by canceling cable subscriptions and switching to streaming services. As a result, the industry has invested heavily in broadband and mobile. According to the latest 'cord-cutting monitor' report from analyst firm MoffettNathanson, Charter has continued to lose pay-TV customers along with the rest of the industry. In Q4 of 2024, the cable giant lost 123,000 cable subscribers. Collectively, the cable industry is expected to continue to shed pay-TV subscribers in the coming years, declining from 67.7 million subscribers at the end of last year to 51.5 million by 2028, according to MoffettNathanson's projections. The firm says the growth of streaming services that replicate the cable bundle won't be enough to offset the downward trend. Charter will acquire Cox's existing six million subscribers if the deal closes as planned. The planned merger awaits approval from Charter shareholders and regulators. The proposed deal will further test regulators' appetite for large mergers in the Trump era. A decade ago, Comcast and Time Warner Cable (TWC) abandoned their proposed $45.2 billion combination amid concerns from the Department of Justice (DOJ) and the Federal Communications Commission (FCC). This post originally appeared at to get the Fast Company newsletter:
Miami Herald
18-05-2025
- Business
- Miami Herald
$34 billion cable merger still needs regulatory approval
It has been a pretty quiet year for mergers and acquisitions. Whether it's because of economic uncertainty due to a bubbling trade war, concerns about interest rates, or an unstable stock market, the merger and acquisition market has been dry in 2025. The largest acquisition so far this year was Alphabet's acquisition of cloud security startup Wiz for $32 billion, according to Intellizence data. Related: Spectrum struggles to reverse alarming customer behavior The next biggest was Sycamore Partners taking Walgreens Boots Alliance private for $24 billion. On Friday, cable and broadband providers Charter Communications and Cox Communications announced a potential $34.5 billion tie-up that could liven up an otherwise dull 2025. Charter would acquire Cox under the agreement, and within a year of the deal closing, the company will change its name to Cox Communications, with Spectrum becoming the consumer-facing brand in Cox communities. The combined company will be headquartered in Charter's hometown of Stamford, Connecticut, but will also maintain a presence in Cox's neighborhood of Atlanta. Charter is publicly traded under the (CHTR) ticker; shares closed Friday's session up 1.8% before falling slightly in after-hours trading. Cox is privately held. "We're honored that the Cox family has entrusted us with its impressive legacy and are excited by the opportunity to benefit from the terrific operating history and community leadership of Cox," said Chris Winfrey, president and CEO of Charter. Image source: Neill/Bloomberg via Getty Images The next step for the companies is to enter the regulatory process. The FCC's Office of General Counsel reviews all merger applications. While there is no official timeline for the review, the FCC ensures that most applications are processed within 180 days. On Friday, the FCC approved Verizon's $2 billion acquisition of fiber internet provider Frontier. But the deal only went through after Verizon made changes to an issue the White House has made a priority to end. The deal was approved after Verizon "committed to ending DEI-related practices," according to a statement by FCC Chair Brendan Carr to TheVerge. Related: Disney, Charter blackout to end after agreeing to new deal Charter has already started putting itself on the White House's good side, as the deal will need approval from the Federal Communications Commission. Verizon agreed to stop having any HR roles or teams focused on DEI and to remove any references to the term from employee training materials, among other changes. President Trump's administration has also prioritized bringing U.S. jobs back from overseas, and the companies emphasized this aspect of the merger. "We will continue to deliver high-value products that save American families money, and we'll onshore jobs from overseas to create new, good-paying careers for U.S. employees that come with great benefits, career training and advancement, and retirement and ownership opportunities," said Winfrey. Spectrum reported losing 60,000 internet customers during the first quarter and an increase in internet service disconnects due to nonpayment. Last July, Spectrum raised its monthly internet prices by up to $4 per month, a move that prompted a backlash on social media that contributed to the steep drop in customers in the first part of the year. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
17-05-2025
- Business
- Yahoo
Charter Communications buys Cox for $21.9 billion, a mega merger in the cable industry
plans to buy Cox Communications for $21.9 billion. The deal will create a major player in the cable and broadband industries, competing with Comcast. It comes as cable operators see subscriptions diminish in both areas. Charter Communications has struck a deal to buy Cox Communications for $21.9 billion, which will bring together two of the biggest cable and broadband companies in the U.S. The new entity will be called Cox Communications, but consumers will know it as Spectrum. The companies say they expect to see $500 million in annual cost savings with the merger. It's a notable changing of the guard at Cox, which is the longest continuous operator in the industry. The Cox family purchased its first cable television franchise in 1962. At the deal's conclusion, Cox will own 23% of the combined company. 'We're honored that the Cox family has entrusted us with its impressive legacy and are excited by the opportunity to benefit from the terrific operating history and community leadership of Cox,' Chris Winfrey, president and CEO of Charter, said in a statement. The merger comes as cable operators see subscriptions diminish and broadband customers explore other options. Charter lost 60,000 internet customers in the most recent quarter. The deal with Cox will give Charter an expanded footprint in the South as well as parts of Southern California. That could prove beneficial after Trump halted, at least temporarily, the rollout of the Biden administration's $42.5 billion broadband-construction program. Cable and broadband companies have been seeing increased competition on all fronts. Cell carriers are offering broadband service of their own and 5G cellular service is as fast as broadband offerings in some cities. In addition, consumers have moved to streaming services, which have aggressively chased customers with lower prices for the past several years. Live sports have kept many cable subscribers from cancelling their subscriptions, but leagues are increasingly exploring distribution options with those services. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
