Praise the Lord and pass the ammunition! Verizon and Time Warner Cable are going to war for the hearts, souls and wallets of New York City pay-TV customers.
Verizon last week got the go ahead from New York State for its FiOS serviced in New York City, formerly the playground of Time Warner Cable and Cablevision. The telco has boldly gone into action, already taking video-service orders with planned install dates starting Aug. 1. Verizon’s blitzkrieg has so rattled industry analysts that one, Pali Capital’s Rich Greenfield, downgraded TWC stock to sell Monday, sparking a flurry of, well, sales by investors who pushed the cableco’s share price down 4.1 percent.
But TWC’s COO Landel Hobbs has launched a counterattack, saying the company has a multi-pronged strategy of its own that will blunt the Verizon offensive. What, pray tell? Well, TWC’s planning to get installers to the door in a narrower window, is offering discounts for longer term contract and is sending out an army of door-to-door sales reps. Hmmm. Shock and awe it ain’t. Score an early win for Verizon.
For more:
See the Wall Street Journal story
