Cablevision Loses 74,000 Q1 Video Subscribers5 May, 2016 By: Erik Gruenwedel
Cablevision May 5 lost 74,000 video subscribers in the first quarter (ended March 31) to finish the period with 2.57 million subs.
The New York-based cable operator, which has been acquired by Dutch-based telecom consortium Altice N.V for more than $17 billion, said it gained 19,000 broadband subscribers.
Indeed, the cabler’s Optimum-branded digital cable television, high-speed Internet and voice services as well as Optimum WiFi features more than 1.5 million access points.
“The company continued to build momentum with solid improvements in service quality and subscriber growth, and achieved the best first quarter performance in customer relationships since 2012,” CEO James Dolan said in a statement.
Due to the pending acquisition by Altice and the terms of the merger agreement, Cablevision suspended its stock repurchase program and said it does not anticipate declaring or paying any dividends during the acquisition period.