Charter is buying Cox. Not Altice. The widely thought rumor that Charter would "take out" Altice at a premium and the driving reason why most of the new leaders are here, is now off the table. Comcast is a logical buyer but will be years+ before they are in a position to do it with their spin-out and their lack of growth. Comcast is trading at 5.8x, our debt makes us trade at 8x.
There is no hope of an acquisition before 2027. Only option is bankruptcy and a firesale of assets
@28y They're taking all the work in house little by little. This has been going on for over a year. But you're right about relatives of Charter execs getting installation contracts. There's one from Texas doing work in CA and NV, has no contractors license to work in those states but Charter allows it any way. Charter doesn't care, the name of the contractor is dcomm or something like that. No license so actually committing a crime working in those two states.
@1mv They laid off several thousand workers because they start to lose internet subs for the first time and were losing money. They were trying to cut some costs. Still losing subs but not as much. At the same time they started taking all of the installation work in house so that boosted expenses. They cutting pricing to installation and construction contractors and paying late now, so I'm shocked that they can afford to buy a cable company.
Charter is subcontracting a bunch of their installs across the USA. Field people should’ve insisted they keep this work in house. Probably going to continue the subcontracting because the company doing the work is full of ex charter account execs. Good luck at the end of 25 to all charter BIRs…
@1mv I believe Cox is being bought using shares, not cash payment.
Isn't Charter laying people off? Is this to save $$ so Charter has $$ to buy Cox?