Re: MSO Stats- Charter Still Going Strong
Thread- Number four MSO in the nation, Charter Communications(sym: CHTR) still going strong with it's spending. I still feel as long as two of the wealthiest people in the world, Bill Gates and Paul Allen, have so much faith in the cable plant, the MSO equipment companies should continue to do well.
BTW, it's ISP affiliate,High Speed Access(sym:HSCA) is down in the dumps along with AT&T's ISP affiliate Excite@Home(sym:ATHM). I don't quite understand why because seems to me, these two have somewhat of a lock on a LOT of potential customers. Now that AOL has killed the, "Open/Forced Access," issue it has died a quick death. Seems to me these two ISPs have a chance of rapid growth. -MikeM(From Florida)
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Charter Communications Completes Acquisition of Bresnan Communications Properties
Twelve AcquisitionsAnnounced in 1999 Completed, Charter to Continue Growth in 2000
ST. LOUIS Feb. 14, 2000--Charter Communications, Inc. announced today that it has completed the previously announced $3.1 billion acquisition of Bresnan Communications Company Limited Partnership.
The acquisition will add approximately 690,000 cable customers to Charter, solidifying its position as the fourth-largest cable operator in the United States serving 6.2 million customers. The Bresnan acquisition formed a super cluster in Wisconsin, Michigan and Minnesota serving approximately 1.3 million customers. With the completion of the Bresnan acquisition, Charter will have concluded the last of the twelve acquisitions announced in 1999.
Jerald L. Kent, Charter's President and CEO, said, "We have completed 12 acquisitions in the past year without sacrificing our operational strength. The Bresnan systems bring not only good markets and excellent facilities, but a quality management team that will enhance this very important cluster and allow us to maintain our high operating standards.
We are adding an experienced management team that has recently upgraded the broadband systems and are currently delivering the next generation of services - digital video and Internet services - to customers. That gives us the ability to hit the ground running and continue to deploy new services at an accelerated pace."
Kent added, "My hat is off to Bill Bresnan, one of the truly great cable entrepreneurs who made the industry what it is today. He is a man whose word is golden. I appreciate the grace with which he turned over the keys, and I look forward to his continued involvement as a shareholder of Charter."
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