If there’s one group the financial community hates more than cable, it’s the telcos. Just 3 weeks after Moody’s downgraded Verizon’s long- and short-term ratings, S&P piled on, reducing ratings for the telco Fri. S&P’s reasons? Verizon is spending too much, losing too many subs and has too many competitors. This time the entire telco sector was bashed, not just Verizon. S&P put BellSouth and AT&T on CreditWatch for possible downgrade for the same reasons. "The cable industry, as a whole, has a limited track record in offering telephone service, but cable companies that have launched telephony have often garnered impressive market share," S&P said. It highlighted Cablevision, which signed 20% of its TV subs and 13% of HHs passed to phone contracts in its 1st two years of service. Most of Cablevision’s phone subs came from Verizon, S&P said. What should telcos do? Concentrate on increasing DSL penetration and upgrade systems, S&P said. "S&P views the potential for significant near-term loss of telephone customers to cable as far greater than the loss of cable customers to telephone companies," it added.

The Daily

Subscribe

Last Stop: C-SPAN Retires Iconic Bus

After 26 years on the road, the C-SPAN Bus is staying parked for good with the road show moving online.

Read the Full Issue
The Skinny is delivered on Tuesday and focuses on the cable profession. You'll stay in the know on the headlines, topics and special issues you value most. Sign Up

Calendar

Jun 10
The FAXIES Awards – Virtual CelebrationSave the Date! - June 10, 2021
Jul 16
Diversity List – 2021 Nominations Due: July 16, 2021
Sep 10
Most Powerful Women – 2021 Nominations Due: Sept 10, 2021
Dec 7
Most Powerful Women CelebrationSave the Date!
Full Calendar

Jobs

Seeking an INDUSTRY JOB?
VIEW JOBS

Hiring? In conjunction with our sister brand, Cynopsis, we are offering hiring managers a deep pool of media-savvy, skilled candidates at a range of experience levels and sectors, The result will be an even more robust industry job board, to help both employers and job seekers.

Contact John@cynopsis.com for more information.