Below are my key takeaways from the Charter Q2 2016 Earnings Call on Aug 9:
CEO Tom Rutledge’s opening statement: “On May 18th we closed our transaction with Time Warner Cable and Bright House Networks creating a new company with a bigger and a significantly more concentrated footprint giving us the local and national scale to innovate and grow faster. Our high capacity network now reaches nearly 49MM homes and business and we have over 25MM residential and business customers in attractive markets.”
Bought Time Warner Cable and Bright House Networks for approximately $67,000MM. The new company will have over 25MM customers in 41 states and be marketed under the Charter Spectrum brand name. They will be the second-largest U.S. broadband provider and third-largest video provider.
Total Q2 revenue for the new company was $9,988MM, a 6.6% YoY increase. Here’s a breakdown by segment: