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story category Cablevision: Revenue Up 11% To $1.9 Billion
As stock jocks boost stock by hinting at Time Warner buyout...
(old news - 05:25PM Thursday May 07 2009)
tags: competition · business · cable · Cablevision
Cablevision was the latest carrier to issue their first quarter earnings, which note that revenue jumped 11% to $1.9 billion from $1.72 billion one year earlier. The company's net profit was $20.2 million, versus a loss of $31.6 million during the same time period one year ago. The company lost 6,300 basic cable customers but added 9,400 digital cable customers, while adding 141,700 new broadband customers and 51,400 new phone customers. Responding to the possibility of a Madison Square Garden spinoff, Stock jocks Craig Moffett and Chris Marangi helped rekindle the decade-old unsubstantiated rumor of Cablevision selling their cable networks to Time Warner Cable.

Related:
  1. FiOS Not Hurting Cablevision...Yet
  2. Cablevision Gets Wrist Slap For Misleading Ads
  3. Cablevision Begins Beta Testing 100Mbps?
  4. Cablevision Ramps Up HD Availability
  5. Verizon Uses Your Forum Complaints Against Cablevision
  6. Carriers Compete With 'Cash' Back Deals
  7. Cablevision: FiOS? What's FiOS?
  8. Verizon Won't 'Slavishly Satisfy' You With 100 Mbps FiOS
Forums » Cablevision: Revenue Up 11% To $1.9 Billion
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swintec
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join:2003-12-19
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Time Warner Buys Cablevision...

I can see it now...OOL "Boost" will become 15 MBits down...1.5 MBits up....WITH Powerboost! The 101 MBit tier will be quickly buried.
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kba4

join:2001-10-23
Canton, OH

Re: Time Warner Buys Cablevision...

nah, they'll keep the speeds but everyone will get 200GB caps.
sharksfan3
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Re: Time Warner Buys Cablevision...

said by kba4 See Profile :

nah, they'll keep the speeds but everyone will get 200GB caps.
You mean 20GB caps...

Chris 313
Come get some
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said by swintec See Profile :

I can see it now...OOL "Boost" will become 15 MBits down...1.5 MBits up....WITH Powerboost! The 101 MBit tier will be quickly buried.
I agree. Why debut such a interesting setup as 101Mbits, that speed freaks and others would flock to and pay for, only to sell out to a slower competitor that would go backward, not forward, and prehaps even charge more for the same or lesser service.

I hope Cablevision resists the rumor and stays up and if they do sell, I hope Comcast grabs them. While expensive, at least Comcast has better speeds

I also predict Comcast buying TWC and then gobbling CV after beating that 30% cap.

n2jtx

join:2001-01-13
Glen Head, NY
I would be gone so fast that TWC wouldn't even get to send me a bill with their logo.
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cchhat01
The Guru

join:2001-05-01
Elmhurst, NY

nuff said

keep twc at bay. cablevision is doing just fine the way it is.
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dbmaven
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Completely Counter-intuitive

They must be cooking the books !!

How could they possibly be making a profit, and ADDING Broadband customers (all while competing with Verizon FIOS!) while:
- not having any caps
- not throttling downloads or uploads
- providing some of the fastest broadband available in the US

And announcing 101/15 DOCSIS 3.0 service (available starting next Monday).

Clearly something is wrong. They can't possibly be making a profit. TWC (and other cable shills) say so.....

/sarcasm

(Disclaimer: OOL isn't perfect - they've got their share of issues - sorry Brooklyn - but overall they're better than most out there...)

I may be taxed to death living in New York - but at least I've been lucky enough to land in a Cablevision territory.
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me1212

join:2008-11-20
Pleasant Hill, MO
·VOIPo

Re: Completely Counter-intuitive

"Clearly something is wrong. They can't possibly be making a profit. TWC (and other cable shills) say so....." Maybe they should copy CV's plan and not treat their costumer like they r nothing but crooks that will only use more speed+ a larger cap to break the law. They should treat them like CV treats its costumer, like people/business partners and not scum.
PX Eliezer
Premium
join:2008-08-09
New Jersey

Re: Completely Counter-intuitive

Where ya been, me1212?

Good to see you.

Visit us in the Voip Tech Chat forum.
me1212

join:2008-11-20
Pleasant Hill, MO

Re: Completely Counter-intuitive

I been on gamefaqs.com, trying to finish my pokemon diamond team b4 heartgold is released(a pokemon gold re-make) so I can kick butt on wifi.
LJGoose

join:2008-08-31
Middle Island, NY
Small footprint!
Attack Gypsy

join:2007-05-10
Bridgeport, CT

Re: Completely Counter-intuitive

Not really. Only the largest metropolitan area in the US.

I wouldn't call 4 million customers small.

OOLlover

@optonline.net

said by dbmaven See Profile(Disclaimer: OOL isn't perfect - they've got their share of issues - sorry Brooklyn - but overall they're better than most out there...)

I may be taxed to death living in New York - but at least I've been lucky enough to land in a Cablevision territory.
[/BQUOTE :


Right on. I came from Comcrap and believe me Cablevision is worlds better. Even their customer service believe it or not. I can't stand Time Warner either.

So in summary if you can't get FIOS, Cablevision is the next best thing hands down. That is if you have happen to be in an area which they serve.
majortom1029

join:2006-10-19
Lindenhurst, NY

I dont think so.

Newsaday cablevisions newspaper reported that cablevision might want to be focusing on cable .So i do not see it selling its cable business to time warner.

By the looks of it the board wants to sell msg and some other things so it can put that money into upgrading its network.
PX Eliezer
Premium
join:2008-08-09
New Jersey

Re: I dont think so.

Cablevision should split off its other stuff like MSG.

Then change its corporate name to Optimum already.

Everybody knows this is what will happen in the end!

Having 2 names (Cablevision/Optimum) is stupid.

MxxCon

join:1999-11-19
Brooklyn, NY
clubs:

Re: I dont think so.

it's not 2 names.
Cablevision is the company name.
Optimum is the branding name of their services.
Optimum TV, Optimum Online, Optimum Voice.

Bobcat
Premium
join:2001-02-04
Bedminster, NJ

Re: I dont think so.

It should be Opium Online.

datguy66

@verizon.net

they save on labor costs

they are notoriously cheap with their labor costs.. Ive seen the techs they use- guys driving in their personal vehicles without COMMERCIAL plates.. how much do they save on gas, supplies, safety, health, vacations, holidays, commericial vehicle registration fees and inspections, also insurance on these vehciles??

great for you pricewise, but YOU wouldnt want to work there..

These poor guys trying to make a living not realizing THEY are the one who are subsidizing YOU. How?? By all of the above and classifiying them as independent contractors they shift the cost of health. unemployement insurance, social security taxes that they (CVC) doesnt pay, etc etc

BTW, how does a company with a NET PROFIT of $20.2 MILLION DOLLARS justify sub contractors driving personal vehicles to provide service to its customers?

What if you get into an accident with one of these cable techs? You can bet cablevision will have nothing to do with it if the guy is under insured or not insured or whatever.

Hope these guys arent sick when they come to your house, you can bet they wont stay home and miss a days pay
iansltx

join:2007-02-19
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Re: they save on labor costs

If it's so bad then the cable techs would go and work for TWC, right? Cablevision runs their shop with an eye to low overhead, that's a GOOD thing. They pass their savings on to the customer in the form of MUCH faster service than your average cableco.

I'm not going to whine if someone I work for doesn't wipe my butt for me. Then again, I effectively work on a consultant-style basis so if I don't work, I don't get paid. Employers pass on the savings to customers and sometimes me, in the form of more work and/or accepting a higher per-hour fee if I wanted to charge them that.

In sum, I fail to see why streamlining operations and passing on the benefits to the customer is a bad thing.

datguy66

@verizon.net

Re: they save on labor costs

so a major corp with millions in profits has people working for them using their personal cars with ladders tied to the roof and thats ok with you?

That sounds like they use people who are doing side jobs then actually doing a real job.

Its ok when someone ties a ladder to the roof of their car, drive all around town ,climb poles, etc all day long without commercial plates?

Isnt that illegal? Arent you supposed to have commerical vehicles when you are in business and operation on the public streets? They do so operating under the cable co's franchise and authority. Arent there any standards?

Are there background checks? Is this person trustworthy to let inside your home?

Can just anyone park their car, put out traffic cones to divert traffic and climb up 20 feet with little to no safety equipment? Or training?

Cutting corners to save you a few bucks isnt the right thing to do..

I remember watching a 20/20 episode on below standard airline replacement parts and screws.. Turns out the airlines cut costs by buying products that were shoddily made so that everyone made money and save on costs..execpt the people who died because of it.
iansltx

join:2007-02-19
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Re: they save on labor costs

Actually, I'm perfectly fine with hiring people to do the job that aren't going to demand union wages. I'd be perfectly fine paying for wear and tear on another person's car rather than buying a company van. I'd be perfectly fine reimbursing people for legitimate business expenses rather than having to have a whole dpartment for stuff a company would have to shell out for to outfit people themselves.

It's not illegal. It's a new business model focused on efficiency.

Others, please chime in here if they think I'm wrong about this.

Jmartz

join:2000-07-20
Tenafly, NJ

said by datguy66 :

By all of the above and classifiying them as independent contractors they shift the cost of health. unemployement insurance, social security taxes that they (CVC) doesnt pay, etc etc
I work in the television business, and the above mentioned workers are called freelancers. A lot of people prefer to work that way because they can create their own businesses, have the people they work for (Cablevision) pay that business, and then write off a ton of expenses come tax time. The people working as sub contractors know exactly what they are doing. They might suck at the job, but come tax season they get huge refunds because of all the write offs.

If it saves me money, and makes them money... why would I care?

datguy66

@verizon.net

Re: they save on labor costs

I dont think its all that great, more likely thats the only job they can get.

All of them I spokw too said they would rather work for a company then just piece meal.

If they suck at the job its because the bar gets lowered all the time, people willing to work for less just to work at all..

Just ask all the computer people with big money degrees who lost a job overseas to indian tech support

Voyager2K2

join:2001-10-04
Wayne, PA
·Verizon FIOS

Umm aren't you paraphrasing the same philosophy that killed (or is killing) the auto industry?
Dude corporate America isn't here to take care of high school grads (or drop outs) from cradle to grave or anyone for that matter.
If OOL subs had a problem with their compensation they would move on. That's how the free market works, albeit without Union extortion.

FloridaBoy

@verizon.com

Re: they save on labor costs

Hmm, didnt realize a 40k salary with pension and benefits was extortion??

So, considering your quotes above, you are ok with outsourcing??

datguy66

@verizon.net

Their are plenty of people in these industry's with college degree's or trade school experience, plus years of on the job experiece that cannot be taught in any school.

In fact I know of more then a few people with masters, bacheolers degrees woking in cable/phone/electric utility jobs.. Just because they wear boots and jeans doesnt make them low educated

To lump them all in as being hs grads or dropouts as an excuse to bash unions is totally unfair.

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Sussex, NJ
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said by datguy66 :

they are notoriously cheap with their labor costs.. Ive seen the techs they use- guys driving in their personal vehicles without COMMERCIAL plates.. how much do they save on gas, supplies, safety, health, vacations, holidays, commericial vehicle registration fees and inspections, also insurance on these vehciles??

great for you pricewise, but YOU wouldnt want to work there..

These poor guys trying to make a living not realizing THEY are the one who are subsidizing YOU. How?? By all of the above and classifiying them as independent contractors they shift the cost of health. unemployement insurance, social security taxes that they (CVC) doesnt pay, etc etc

BTW, how does a company with a NET PROFIT of $20.2 MILLION DOLLARS justify sub contractors driving personal vehicles to provide service to its customers?

What if you get into an accident with one of these cable techs? You can bet cablevision will have nothing to do with it if the guy is under insured or not insured or whatever.

Hope these guys arent sick when they come to your house, you can bet they wont stay home and miss a days pay
I don't think that's true. As far as I know they use contractors, just like the other cable companies do. RFM services is one of the contractors that they use.
nltech

join:2007-06-13
West Haverstraw, NY

No Surprise

Profits up since they have turned off many analog channels forcing subscribers to pay the extra $7 for each TV.
ksuderman

join:2001-10-21
Poughkeepsie, NY

The longest running rumor ever?

Oh no, the rumor that won't die... I've been reading predictions that TWC was going to buy Cablevision since I've been a member here. I think this must rate as one of BBR's longest running rumors.
--
In theory there is no difference between theory and practice, but in practice there is.
tmc8080

join:2004-04-24
Floral Park, NY

pull out the wool

You'd be surprised how accountants can take a big profit and make it look like a small profit. Newly acquired Newsday makes that a much easier task-- doesn't it? Also they are famous for making the books look as if the company is making hand over fist, all the while it's going down the tubes.. (recent bank & insurance company fraud comes to mind, hint hint, AIG, BOA, CITIbanK, Chase, etc).

Knowing cablevision.. I'd lean to thinking on 1.9 billion revenue-- they're hiding more profit than shown these days, but don't expect an audit anytime soon. The accounting is well covered up/papered over. Maybe not as teflon as Walmart.. but good enough.

There is one thing good to be said about cablevision.. without their triple play pricing.. the cable industry would be gouging the consumer with much higher rates and laughing at how AT&T is bumbling all over themselves to offer a product that is just as mediocore as the cable companies. The only places they'd face mass defections is within the Verizon footprint. This competition is the lynch pin for the entire indutry not charging as much as they really want to charge for Cable-Tv, Broadband and Phone service (upwards of $100 each for entry level choices compared with an industry low of $29.95 add to higher prices-- bit capping & overages as well).

edinct

@comcast.net

dont hold your breathe

dont bet on a twc buyout anytime soon in this market. the dolans will spinoff msg operations to a partnership lead by themselves. rainbow media would be next to go amc,we and fuse, remember they got a billion dollars from nbc for bravo. the optimum operations are lean and mean and will be a cashflow machine as the economy improves. the doaln's are in no hurry to sell especially at current values. if and when down the road they do, dont count out at&t as the buyer where they can takeon the ny/nj operations and trade the ct ops to comcast for there northern nj cluster. never say never!
Forums » Cablevision: Revenue Up 11% To $1.9 Billion


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