CPUC Review of Charter Deals Could Be Accelerated, TWC CEO Marcus Says
California Public Utilities Commission review of Charter Communications' buying Bright House Networks and Time Warner Cable potentially "can be accelerated," TWC CEO Rob Marcus said in a conference call Thursday as the company announced earnings. On regulatory approval of the…
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$89.1 billion pair of deals, Marcus said TWC and Charter are "working constructively with FCC, and DOJ to ensure that they are in a position to approve the deal expeditiously," though he said he couldn't give a timetable for closing. California has said it's on track to make a decision in June on the deals (see 1601130060). Marcus also said TWC is beta testing in New York City an IP video product "that eliminates the need for a leased set-top box." For the year, TWC said it spent $5.82 billion on programming and content, up nearly 10 percent from 2014. Marcus said the cable industry is in the "very early days" of offering content a la carte -- a trend that could shift leverage and lead to slower programing cost growth. When asked about Verizon's small-bundle Custom TV package, Marcus said, "The only reason that we haven't run headlong into a custom TV-type solution is that we've really made a great effort to simplify our offerings as we tried to turn our residential business around, and keeping things simple," with that approach helping in the company's customer numbers -- ending the year up 32,000 video customers.