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#Charter Loses 144,000 Pay TV Subs in Fourth Quarter, Adds 105,000 Broadband Users

Charter Loses 144,000 Pay TV Subs in Fourth Quarter, Adds 105,000 Broadband Users

Cable giant Charter Communications, in which John Malone’s Liberty Broadband owns a big stake, reported its fourth-quarter results on Friday, including slowed broadband subscriber growth and a bigger pay-TV user loss than in the year-ago period.

The company, led by its new president and CEO Chris Winfrey, lost 144,000 pay-TV subscribers in its latest quarter, compared with a loss of 58,000 in the year-ago period. It ended December with a total of more than 15.1 million pay-TV customers.

Charter’s broadband user growth in the fourth quarter slowed as it added 105,000 customers after gaining 190,000 in the year-ago period. It ended 2022 with more than 30.4 million broadband subscribers.

But Charter’s mobile business continued to grow faster. In the fourth quarter, the firm added 615,000 mobile lines, up from 380,000 in the year-ago period. That meant it ended 2022 with nearly 5.3 million mobile lines.

Total customer relationships saw 54,000 net additions in the final period of 2022, down from 120,000 in the fourth quarter of 2021, to nearly 32.2 million.

“We continued to execute well in 2022, growing customer relationships, revenue and earnings before interest, taxes, depreciation and amortization,” said Winfrey. “In 2023 and the coming years, we remain focused on three core initiatives — network evolution, footprint expansion and operational execution. Each of these initiatives will deliver benefits for a growing base of customers, our employees and local communities, with long-term value creation for our shareholders.” 

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