Time Warner Cable news — the subscribers of the company have been reportedly increasing; they are also planning to do away with traditional cable boxes, and the Charter merger may be delayed to Q1.
In a report posted by Time Warner Cable on Thursday, the company added 232,000 high-speed data subscribers during the third quarter. The number has exceeded the analysts' forecast, which was around 191,000.
Time Warner Cables' Q3, in terms of subscriptions, seems better compared to Q2, which reportedly had 172,000 Internet subscriber additions. Moreover, the company reported losing 7,000 residential video subscriptions, which is less compared to the 45,000 loss they had in Q2.
The company has also exceeded the estimated average earnings of the analysts which was $1.57 per share. The Business Times learned via Thomson Reuters I/B/E/S that the cable company earned $1.62 per share, with items not included.
Despite the 3.6 percent to $5.92 billion rise in revenue, the company still falls short of the forecasted $5.96 billion.
Meanwhile, Time Warner Cable will be trying something out in New York — delivering cable service to consumers without the need for set-top boxes, CBS reported. The idea, which targets millenials, came up because many are skipping video services and choosing the Internet for watching videos and shows.
There won't be a need for a technician to install the cable, according to CEO Rob Marcus. The subscriber only needs to type in a username and password.
Time Warner Cable will reportedly eliminate the need for the first set-top box, with this trial. It will also include free Roku, but service would require a TV that works with it.
How this new service will affect the home Internet speed is yet to be known. Tech enthusiasts are expecting for more details to be unveiled soon.
The news about the merger of Time Warner Cable and Charter Communication isn't something that is brand new. In fact, it has been reported that the deal is expected to close by the end of the year.
Charter's Chief Executive Officer Thomas M. Rutledge said in a separate call that the company was operationally ready to close the deal before 2015 ends. However, realistically, he thinks the transaction will close during 2016 Q1, The New York Times reported.
The Federal regulators are reportedly scrutinizing Charter's bid, and he said that the company was closely working with them to make sure that every information needed for the evaluation of the transaction is provided.
The approval of the acquisition will create the United States' second-largest cable operator, with 24 million subscribers, next to Comcast.
