Calling the video business “a melting ice cube,” SunTrust Robinson Humphrey initiated coverage of the cable TV industry with a mostly neutral view, though Charter Communications (CHTR) mustered a buy rating. Inder Singh, an analyst at SunTrust Robinson, doled out neutral ratings to Comcast (CMCSA), Time Warner Cable and Cablevision Systems (CVC). On Comcast, the biggest cable TV firm, Singh said: “Its balance sheet is almost unrivaled in its
Europe’s Altice Group acquired its second U.S. cable TV company in four months, snapping up New York-based Cablevision Systems (CVC), which competes mainly with Verizon Communications (VZ). Altice, which in May acquired a 70% stake in Midwest-based Suddenlink Communications, will pay about $10 billion, or $34.90 per share, for Cablevision, including $3 billion in cash. Cablevision will add more than $6 billion in new debt to finance the deal.
Comcast (CMCSA) announced early Wednesday that it was creating an Enterprise Services unit to offer broadband, Wi-Fi and other more to the biggest U.S. companies nationwide, posing a new challenge to AT&T (T) and Verizon (VZ). Comcast will provide services even outside its home markets by reaching wholesale deals with Time Warner Cable (TWX), Charter Communications (CHTR), Cablevision (CVC) and more. That cable industry alliance, Comcast