A federal bankruptcy judge has approved a restructuring that calls for the sale of struggling regional sports network Comcast SportsNet Houston to AT&T and DirecTV.
Charter Communications continues to line up the financing it needs to buy cable systems currently covering 1.5 million Time Warner Cable customers, announcing on Wednesday that it will sell $3.5 billion worth of speculative-grade bonds.
After 11 years of failed settlement attempts and legal arguments that reached U.S. Supreme Court, a class-action group of Philadelphia-area cable subscribers will get only a small fraction of the $875 million they had originally sought from Comcast.
Amid an aggressive expansion of its Wi-Fi network that aims to have around 8 million hotspots deployed in the U.S. by the end of 2014, Comcast is selling its subscribers on the hospitality angle.
Speaking to investors during Comcast's third-quarter earnings call last week, NBCU chief executive Steve Burke said he was surprised by recent announcements from HBO and CBS introducing new a la carte streaming services.
Few people think that Comcast's proposed purchase of Time Warner Cable is in regulatory jeopardy. "But the market is worried," said high-profile media analyst Craig Moffett, citing the growing spread between the two companies' respective share prices--a metric that has swelled to over 8 percent, the highest it's been since the deal was first announced in February.
Comcast reported third-quarter net income of $2.6 billion on revenue of $16.8 billion, up 4 percent year over year. Revenue from cable operations spiked 5.2 percent, with TV subscribers decreasing 81,000 for the quarter, down 36 percent from the 127,000 lost in Q3 2013.
The head of the Senate Judiciary Committee has asked Comcast to permanently ban Internet fast lanes, putting further pressure on the conglomerate as it tries to get its increasingly controversial purchase of Time Warner Cable through regulatory processes.
Striking a defensive tone eerily similar to another FCC petition issued by Comcast three weeks ago, AT&T and DirecTV tried to distance their proposed merger from that being undertaken by Comcast and Time Warner Cable.
A combined AT&T-DirecTV will be good for rural customers, effectively helping bridge the digital divide, but it has no connection with Comcast's proposed purchase of Time Warner Cable, AT&T argues in a new filing with the FCC.