Charter Eyes Mobile Expansion; Will 'Defend Ourselves' on NY PSC TWC Revocation
Having soft launched its mobile service June 30, Charter Communications plans to ramp up features and marketing this summer, expanding mobile devices supported and letting customers transfer handsets, CEO Tom Rutledge said in a Q2 call Tuesday. Rutledge said company…
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labor issues in New York City "politicized the actions" of the state Public Service Commission, which revoked approval of the TWC takeover (see 1807270027). "We're in compliance with the plain reading and the buildout requirements that the state imposed on us in merger conditions and we have a very strong legal case and ability to defend ourselves," he said. "It could play out over a lengthy period of time, if required. If necessary, we'll litigate." Asked about T-Mobile/Sprint, Rutledge said Charter wasn't one of the parties interested in Sprint (see 1807310042). "It doesn't mean in the future mobile assets might be priced right and that natural convergence would occur," he said. The chief said 91 percent of the footprint is all-digital and 6 percent of legacy Time Warner Cable customers had a full analog video lineup. He said about half of the Bright House Networks footprint is analog, and the all-digital shift started in June. He said the whole company will be fully digital by year's end and plans to launch a cloud-based DVR later this year. Rutledge said 62 percent of residential TWC and BHN customers were moved to Spectrum pricing and packaging, up from 55 percent at the end of Q1. He said Charter offers 1 GB service in about 60 percent of its footprint and it raised its minimum Spectrum to 200 Mbps in about 40 percent of its footprint. Charter has 16.2 million residential video customers, down 1.8 percent year over year; 23.1 million residential internet customers, up 4.8 percent; and 10.3 million voice customers, down 0.5 percent. The stock closed Tuesday up 3.6 percent to $304.58