Leading cable multi service operator (MSO) in the U.S. – Time Warner Cable Inc. (TWC) –has signed a multi-year deal with Carolina Panthers, a professional American football team, to air exclusive content produced by the latter.
Per the deal, Panthers will be producing 250 hours of program content every year, which will be broadcasted by Time Warner Cable on TWC SportsChannel, across the Carolinas starting July 23. Apart from that, TWC SportsChannel will also telecast other programs like live post-game and gamenight shows, a behind-the-scenes series and night shows devoted solely to Panthers.
Notably, Panthers have a huge fan following through North and South Carolina. This agreement indicates Time Warner Cable’s intention to capitalize on the popularity of the Panthers in North and South Carolina, to add new video subscribers to its existing customer base. In the first quarter of 2014, Time Warner Cable brought down its residential video customer loss significantly to 34,000 from 217,000 in the previous quarter.
The first quarter figure also marked the lowest loss in the last five years. Moreover, the company witnessed healthy subscriber addition for its broadband and digital phone services in the quarter.
In the reported quarter, Time Warner Cable achieved revenue growth across all its segments. Further, the company gained 82,000 and 31,000 triple and double play subscribers, respectively.
Recently, Time Warner Cable and global WiFi service provider Boingo Wireless, Inc. jointly announced a roaming access agreement. Per the pact, Time Warner Cable customers will now be able to access Boingo’s WiFi services in over 100 superior Boingo locations.
Time Warner Cable currently bears a Zacks Rank #3 (Hold).
Other Stocks to Consider
Better-ranked stocks worth considering in the Cable TV industry are Cablevision Systems Corporation (CVC), Rogers Communications Inc. (RCI) and Shaw Communications, Inc. (SJR). All these stocks hold a Zacks Rank #2 (Buy).
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