Shares of the largest pay-TV distributors, including pending merger partners Comcast and Time Warner Cable, spiraled downward Monday on news of the President’s plan.
It isn’t broke yet, but it is clearly breaking. Taken from comments made by network owners and pay-TV distributors during their third quarter earnings calls.
A new report shows that twentysomethings are perfectly willing to subscribe to a streaming video service that gives them what they want, when they want, across devices ad-free. And increasingly they are getting that from alternatives other than cable.
Comcast hit back at critics of its impending $45 billion merger with Time Warner Cable in a strongly worded filing with federal regulators. The company, which ranks as the nation’s largest cable provider, accused Netflix, Discovery Communications, and others of attempting to extort it in return for sweetheart deals and abstaining from opposing the merger.
As many as 10% of HBO’s 30 million subscribers are “non-revenue generating.” A new report from Barclays Capital says converting half of those subscribers to paying ones would generate between $72 million and $144 million in cash.
Cupertino will be the first California market in which AT&T will deploy its fiber network. The telecommunications giant, whose $67 billion deal to acquire DirecTV is under regulatory review, may also expand the rollout to San Francisco, Oakland, and parts of San Jose, including Mountain View.
Of being a Time Warner Cable subscriber, Seth Meyers said, “It’s not great, I don’t love it.” His comments came during an interview with BuzzFeed CEO Jonah Peretti as part of BuzzFeed Brews with CBS This Morning.
But the move could just be a negotiating ploy.
The NBC Nightly News anchor’s relentless desire to be funny has reached the point of diminishing returns.
Stranger things have happened.
Sixteen years ago, in 1998, AT&T’s then-Chief Executive C. Michael Armstrong spent close to $100 billion buying up cable companies to pursue an ambitious plan to bundle video, internet, and phone service. It did not go well. And now, with its DirecTV deal, AT&T is basically trying to do it again.
AT&T’s interest in DirecTV is less about strategic fit and more about gaining access to the satellite operator’s massive cash flow.
Multiple news outlets reported Monday that AT&T is closing in on a deal to acquire DirecTV, the nation’s largest satellite TV operator, for $50 billion. The potential deal comes after years of on-again, off-again negotiations between the two companies and follows the impending $45.2 billion merger of Comcast and Time Warner Cable.
The NBA’s current TV contract expires in two years, and as the only major sports league or property whose rights become available before 2020, the league is about to score a big-time payday.
Randy Falco, who previously served as one of the highest-ranking executives at NBC, said on Univision’s first-quarter earnings call Monday that the Comcast-Time Warner Cable merger is bad for competition, particularly for Hispanic consumers. NBC owns Univision’s top competitor, Telemundo.
After being usurped by Comcast to acquire all of Time Warner Cable, Charter Communications managed to save face by inking a deal to buy and swap some cable systems with Comcast in a complex, three-step, roughly $20 billion deal. As a result, Charter, whose biggest shareholder is cable industry pioneer John Malone, will become the second-largest cable distributor in the country, trailing only the combined Comcast-Time Warner Cable.
The streaming video service’s CEO, Reed Hastings, made the comments in his first-quarter letter to shareholders. Netflix also said it added 4 million global subscribers for a total of 48.35 million.
CBS, Time Warner, Viacom, 21st Century Fox, Disney, Discovery, and other big media companies weren’t at Comcast’s Senate panel hearing Wednesday. The eternal forces of fear and greed.
Steve Burke made the pitch during an on-the-record lunch with reporters ahead of next month’s upfronts and just two days before parent company Comcast is due to defend the merits of its $45.2 billion merger with Time Warner Cable before the Senate.
In a blog post on Netflix’s website, Hastings lays out the case for stronger net neutrality. It comes just a few weeks after Netflix inked a deal with Comcast for faster access.
Chief Executive Rob Marcus could take home $80 million.
Apple makes nearly half a million dollars for each of its 80,300 employees, by far the most of any company on the list.
The Facebook CEO has grown into a cocksure leader, solid operator, and gutsy deal-maker, even if the casual dress remains.
The proposed $45 billion mega-merger between Comcast and Time Warner Cable put the spotlight squarely on Federal Communications Commission Chairman Tom Wheeler. The FCC and Department of Justice will conduct the merger review, looking at such factors as market concentration, pricing power, and broadband access, among other issues, to determine approval or rejection.
Comcast’s surprise deal to acquire Time Warner Cable for $45.2 billion leaves Charter Communications, led by CEO Tom Rutledge, with few options. Charter had been pursuing Time Warner Cable for months.
The consolidation of anti-cable company rage…and jokes.
The $42.5 billion deal would make the country’s largest cable provider even bigger. And already people are unhappy.
Comcast’s Roberts family and John Malone’s Liberty Media have both reshaped and risen to the top of the cable television industry through dealmaking. h/t @qz.
Recent stories about a potential sale of Time Warner Cable offer a master class in the subtle semiotics of deal-making. A reader’s guide.