Volatility typified a 3Q that ended Tues with the following YTD changes: Mediacom (+14%), DirecTV (+14%), Comcast (+7%), Cablevision (+2%), Time Warner Cable (-12%), Verizon (-27%), AT&T (-33%), DISH (-37%) and Charter (-38%). — Charter pres/CEO Neil Smit agreed Fri to a restatement and amendment of his employment agreement (effective Jul ’08) including: an extension of the term to Jun ’10; an increase in salary to $1.5mln/yr from $1.2mln; a target bonus increase from 150% of annual base salary to 200%, and a signing bonus of $2mln. Separately, a Charter subsidiary is offering to purchase an amount of outstanding senior notes not to exceed $100mln in order to reduce the MSO’s consolidated interest expense. — VOD net HealthiNation has secured $7.5mln in Series B funding led by Intel Capital. — AT&T announced a strategic investment in Zvents, a local search engine and ad network that uses event listings to promote local businesses.

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Wednesday–October 15

Effros: Utility Competition

In a conversation I had with him many years ago, John Malone, then CEO of Telecommunications Inc (TCI)—the largest cable company at the time—asked if I thought we could get “Washington” to regulate cable as a “public utility.”

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