Cable and Telecom Favoring Debt Reduction Over M&A, S&P Says
Cable and telecom companies will focus more on debt reduction than mergers and acquisitions this year -- especially the largest operators dealing with record high levels of debt, S&P Global Ratings said Wednesday. Others also predicted a slower year in…
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pay-TV and programmer M&A (see 1901040029). S&P expects continued video subscriber and wireline voice subscriber losses. It said efforts to pay down debt could run up against "mature and competitive industry conditions" and spectrum license purchases. S&P said service revenue and subscriber trends for wireless companies were buoyed in 2018 by Sprint and T-Mobile cutting back on their aggressive promotional activity, and their combining (see 1901160037) could alleviate competitive intensity in that sector.