reports
- Jonathan Chaplin
US Broadband: Impact of Storms Helene and Milton
In this short note, we have tried to estimate the impact of “Helene” and “Milton” on the broadband subscribers for the major Cable companies and ILECs. The impacts from storms are one-time in nature and do not impact the long-term broadband thesis. Companies tend to disclose the impact, allowing investors to normalize results. Nevertheless, some of our clients have asked us to estimate the impact, so we did.
- Jonathan Chaplin
TMUS seems lukewarm on Cable acquisition
When asked about his interest in cable at the DT Capital Markets Day, Sievert seemed to suggest that Cable may face a “capital surprise”. This will no doubt dampen anticipation for a TMUS / CHTR deal. We are not so sure this is the right conclusion. Our quick thoughts in this brief note.
- Jonathan Chaplin
CHTR Quick Hit: Charter Buybacks Muted in October
We determined after last month’s filings that Charter was not repurchasing stock in the open market, suggesting they may be involved in a strategic process. As it turns out, they were in discussions to acquire Liberty Broadband (LBRD) with or without GCI (our note on the proposed transaction here). We lowered our expectations for buybacks following the announcement of the deal talks. Advance/Newhouse filed its latest Charter ownership disclosure last night. The buyback amount was almost negligib...
Charter Communications Inc: 1 director
Two Directors at Charter Communications Inc sold 5,686 shares at between 0.000USD and 356.640USD. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors...
Comcast Business 2024 Cybersecurity Threat Report: Artificial Intellig...
PHILADELPHIA--(BUSINESS WIRE)-- today released its , a valuable resource for IT and security professionals, based on the analysis of 29 billion cybersecurity events detected by Comcast Business across its security customers in 2023. The report highlights significant changes in the cybersecurity landscape, driven by sophisticated threat actors, an expanding attack surface and the transformative power of AI. "Armed with a newfound arsenal of AI-based capabilities and a landscape littered with vulnerable systems, cybercriminals are having a moment,” said Noopur Davis, Chief Information Security...
- Jonathan Chaplin
Comcast Pre-3Q24 Model Update
This report covers changes to our model to incorporate recent management commentary at investor conferences. Our broadband losses for 3Q remain unchanged but we now expect all ACP losses to be reported in 3Q. We have lowered losses for 4Q due to no ACP impact. No change to thesis. Price target is $50 (+20%).
- Jonathan Chaplin
Charter Pre-3Q24 Model Update
This report covers changes to our model to incorporate recent management commentary at investor conferences. The most significant change was lower broadband losses due to lower ACP losses than previously expected. We now expect slightly lower losses than consensus in 3Q24. Price target is $473 (+44%).
Comcast’s Black Experience on Xfinity Celebrates Black Fine Art Month ...
PHILADELPHIA--(BUSINESS WIRE)-- Today, Comcast celebrates Black Fine Art Month (October) with the premiere of Who’s Behind Black Art, a four-part docuseries that explores the lives of five emerging artists navigating the industry and their journey to create a unique exhibition. This award-winning series is available now on Comcast’s Black Experience on Xfinity channel and the Xumo Play free streaming app. Launched in 2021, Black Experience on Xfinity features the ultimate in Black storytelling from Comcast’s diverse programming partners and film studios and has released a number of original do...
- Jonathan Chaplin
2Q24 Broadband Trends: Are fiber builds accelerating?
In this iteration of “Broadband Trends” we explore whether fiber builds are accelerating and how it will impact Cable’s subscriber growth. We also reprise our work on the competitive positioning of the various operators based on relative NPS scores.
Moody's Ratings says Charter's credit ratings are unaffected by the pr...
Moody's Ratings (Moody's) says Charter Communications, Inc.'s (Charter or the company) Ba2 Corporate Family Rating (CFR), all other credit ratings and the negative outlook are unlikely to be affected by its proposed transaction with Liberty Broadband Corporation (parent of GCI, LLC (B1 Stable)). O...
Rogers to Adopt Comcast’s Industry-Leading Network Design Across Its F...
TORONTO & PHILADELPHIA--(BUSINESS WIRE)-- Rogers Communications will begin an industry-first implementation of Comcast's leading network design the two companies announced today. With this collaboration, Rogers will advance its roadmap to deliver faster speeds, enhanced reliability, and lower latency across its footprint like what Comcast has made accessible to more than 60 million homes and businesses in the U.S. The effort continues Comcast's expansion of its global technology platform, allowing service providers across the globe to deliver next-generation connectivity and entertainment expe...
Comcast Leverages Edge Compute to Enhance Streaming Experience for Con...
PHILADELPHIA--(BUSINESS WIRE)-- Comcast is leveraging edge compute technology to put more computing power closer to consumers to deliver a better Internet experience for applications like streaming and gaming and to develop a standardized platform for providers to distribute their content across Comcast’s network. The company will deploy Qwilt’s Open Edge platform, creating the most distributed content delivery network (CDN) in the U.S. This press release features multimedia. View the full release here: Comcast will deploy Qwilt's Open Edge platform, creating the most distributed content deliv...
Comcast Is Harnessing Leading-Edge Cloud and AI Tech to Transform the ...
PHILADELPHIA--(BUSINESS WIRE)-- Today Comcast unveiled Janus, an initiative that leverages leading-edge cloud and AI/ML technology to transform the way its core network will deliver next-generation Internet experiences to customers today, and into the future. Janus maximizes network performance and efficiency by virtualizing Comcast’s core network, unlocking the ability to deliver consistently faster speeds and even more reliable Internet service so customers can stream live sports in 4K, stay connected when extreme weather hits, or use their increasing number of devices to videoconference, VR...
- Jonathan Chaplin
Comcast Launches New Free Streaming App The Network on Its Entertainme...
PHILADELPHIA--(BUSINESS WIRE)-- Comcast today announced the introduction and distribution of , a new free, ad-supported streaming app that only releases exclusive originals, across its entertainment platforms, including Xfinity X1, Flex, Xumo Stream Box, and Xumo TV. As part of its commitment to providing high quality programming to diverse audiences and in honor of Hispanic Heritage Month, Xfinity will provide a special ad-free programming offer of one of The Network’s premium original series, The Green Veil, in partnership with actor/producer/activist/entrepreneur John Leguizamo. This press ...
- Vikash Harlalka
CHTR Quick Hit: New pricing a step in the right direction
This morning, Charter issued a press release announcing new bundled pricing along with price locks. They also announced free speed lifts for existing customers as well as steps to improve customer service. We discuss the impact of today’s announcement in this short note.
- Jonathan Chaplin
CHTR Quick Hit: One buyback mystery solved; another emerges
Advance/Newhouse (finally) filed its latest Charter ownership disclosure late Friday afternoon. The buyback amount was the lowest since we started tracking Charter’s buybacks in 2016. In addition, it appears that all the shares were repurchased from A/N and Liberty Broadband; there were no open market purchases. We don’t know why Charter didn’t buy shares in the open market last month; there could be any number of reasons; but we are certainly intrigued. Our thoughts (but few conclusions) in...
“Two Beats, One Soul” Unites Artists From the U.S. and Cuba to Bring t...
PHILADELPHIA--(BUSINESS WIRE)-- Today, Comcast announced the premiere of Two Beats, One Soul, a documentary film that celebrates and explores the synergies of two cultures by recreating traditional Cuban sounds and rhythms within today’s musical landscape, on Comcast’s Black Experience on Xfinity channel and the Xumo Play free streaming app. Launched in 2021, Black Experience on Xfinity showcases the ultimate in Black storytelling from diverse programming partners, film studios, and independent creators, and has released a variety of original and acquired films and series spotlighting diverse ...
- Blair Levin
NSR Policy: It’s the Election, Stupid (or Is It?): Comparing Harris an...
Between now and election day, the impact of policy on capital markets will largely be a function of which party markets believe will be in control of the White House and Congress for the next several years. This makes some sense, as the party in control will have the opportunity to dictate policy affecting the stocks we cover. It also makes sense in that this election presents two widely divergent views of the appropriate role of government in the economy.
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