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Technology Stocks : LAST MILE TECHNOLOGIES - Let's Discuss Them Here

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To: MikeM54321 who wrote (6807)	4/11/2000 4:26:00 PM
From: MikeM54321	Read Replies (1) of 12823

Re: MSO Spending- Charter to Spend $5.6 billion(!) Thread- You would have thought with an announcement of this magnitude, they could have pulled a Sprint ION or a SBC Project Pronto media blitz. But for some strange reason, MSOs generally keep their spending plans low key. I would have to think it would be good PR for them to spread the news of their commitment. To show both the consumer and the FCC what they are investing. Looks like in this case some reporter dug it out of an SEC filing. Weird. -MikeM(From Florida) ******************* Charter to Spend $5.6 Billion Over 3 Years CHICAGO, March 30- The nation's No. 4 cable systems operator Charter Communications Inc said on Thursday it plans to spend about $5.6 billion over three years** on capital improvements and expects to continue to incur losses for the foreseeable future. St. Louis, Mo.-based Charter, which is controlled by Microsoft co-founder Paul Allen, plans to spend about $5.6 billion from 2000 to 2002, according to the company's annual report filed with the U.S. Securities and Exchange Commission. The company also said it expects to report net losses for the foreseeable future due to acquisition costs and capital expenditures. Of the total spending, $3.1 billion will be used to upgrade the company's systems to a bandwidth capacity of 550 megahertz or greater, which would permit two-way communication and advanced services such as digital television and Internet access. The balance will be spent on plant extensions, new services, converters and system maintenance. Charter expects to finance the anticipated investment through cash generated from operations and additional borrowings under credit facilities. The company said it expects the investment to help serve cable systems with at least 550 mHz to 95 percent of its customers by 2003. Charter currently provides such service to 45 percent of its customers. It also expects 86 percent of its customers to be served by cable systems with at least 750 mHz and two-way communication capability during the same time period. Charter, whose stock debuted on Nasdaq last November, reported a net loss of $66.2 million in 1999 compared with a loss of $17.2 million in 1998. Revenues soared to $1.4 billion in 1999 from $49.7 million in 1998, primarily due to the acquisition of several cable service companies.

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