Charter Communications Inc CHTR and Altice USA Inc ATUS have reportedly reached an agreement to broadcast their respective regional cable news networks.
Charter is the second-largest cable MSO in the United States. Altice USA is one of the largest broadband communications and video services providers, based in Bethpage, NY. While Altice USA carries a Zacks Rank #4(Sell), Charter is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Per the deal, Charter will telecast i24NEWS, which was launched by Altice USA in January. The channel is available on Altice USA’s Optimum and Suddenlink systems.
Meanwhile, Charter’s Spectrum News NY1 will be available to Optimum users in New York, New Jersey and Connecticut. Per sources, NY1’s availability will expand to more than 3 million Spectrum and Optimum TV households, on channel 98 in most areas. NY1 is also available in HD to Optimum TV customers in the Bronx and Brooklyn on channel 8.
i24NEWS will initially be available to Charter’s Spectrum Silver customers and will expand across the footprint by Dec 1. Charter will also launch Altice USA’s News 12 Networks in Western Connecticut systems. News 12 Networks is currently available to Spectrum TV customers in the New York area. Terms of the deal were not disclosed.
The companies are optimistic about their alliance. It is anticipated that the deal will attract new customers.
Recent Deals of Both Companies
On Nov 15, Charter and Viacom Inc. VIAB announced a multi-year renewal and expansion of their distribution relationship. The companies joined hands for a new alliance for the co-production of original content and collaboration around advanced advertising.
On Nov 5, Sprint Corp S and Altice USA inked a new multi-year strategic deal. Per the deal, Altice USA will utilize Sprint’s network to provide mobile voice and data services throughout the nation. Also, Sprint will leverage the Altice USA broadband platform to accelerate the densification of its network.
Price Performance
Charter and Altice USA have been displaying a disappointing price performance, over the past month.
Shares Charter have declined 3.5% against the industry’s rally of 2.5%.
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Altice USA’s shares have lost 22.8% compared with the industry’s decline of 2.3%.
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