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Charter Attacks Time Warner Cable as Acquisition Talks Stall
by Karl Bode 08:02AM Wednesday Jan 15 2014
With Time Warner Cable executives so far refusing the company's acquisition advances, Charter Communications has decided to take the battle to investors and the media. In a rare display of borderline hostility for two companies that don't directly compete, Charter COO John Bickham took numerous pot shots at Time Warner Cable this week, criticizing the company's services while insisting Time Warner Cable embraces a "failed operating strategy" and has fallen into nickel and diming consumers:
quote:
Bickham said that TWC has exhibited a "failed operating strategy revealed by fact that they are losing customers at an alarming rate," and said the trend isn't over just the past year, but rather the past decade...."It appears that Time Warner didn't want to spend the money to go all-digital," he said -- and blasted the company for offering slow Internet packages at deeply discounted prices. But his competitor's service isn't cheap, he added. TWC "has fallen into the trap of nickel-and-dime charges to customers."
Granted this is coming from Charter, whose CEO even just got done admitting their cable TV services aren't particularly good. Charter's also no stranger to nickel and diming themselves, recently gutting their entire social media support department while ceasing support for customer-owned modems. Charter would have you ignore reason in the hopes of convincing investors and the public that their initial offer is just right for what they would be getting.

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Pegasus
Premium
join:2008-01-04
united state
Reviews:
·Time Warner Cable

Sounds like AT&T after they didnt get Tmob.

Whine Whine Whine. it was pretty obvious or at least looked like TWC wasn't all that interested in being acquired in the first place so they were in no rush or looking to make a quick cheap deal. it was also pretty obvious what they wanted, top dollar. what's charter complaining about? sorry your sore over your low ball offer. Please try again later.
Millenium

join:2013-10-30
kudos:1
Reviews:
·Time Warner Cable

1 edit

Thank you

"-- and blasted the company for offering slow Internet packages at deeply discounted prices."

Thank you Time Warner. Thank you very much. Not all of us want to pay $300 a month for the latest and greatest. And since Netflix makes a profit at just $8/month, I'm sure the $15 Time Warner is getting is hardly a discount, let alone a "deep" discount.

TAZ

join:2014-01-03
Tucson, AZ
kudos:3

LOL...

And why would he want to buy such a bad company? :P
Chuck_IV

join:2003-11-18
Connecticut

Re: LOL...

I'm guessing because Rutledge and his band are in line for a HUGE buyout/bonus if he can pull off a merger.

This is a prime example of executive greed. Doing whatever it takes to fatten his wallet, with little regard for what will be left when he's done.

TAZ

join:2014-01-03
Tucson, AZ
kudos:3

Re: LOL...

Oh I know, I just find it funny how they're talking trash about something they're trying to buy. Pick one... either it's trash or it's so good you're going out of your way to own it. :P
BosstonesOwn

join:2002-12-15
Wakefield, MA

Pot and Kettle ?

This is like the pot calling the kettle Black !

Derek A

@bgainc.com

TWC Customer here

As a TWC customer I pray that Charter doesnt purchase TWC. TWC is bad, Charter is complete garbage.

telcodad
Premium
join:2011-09-16
Lincroft, NJ
kudos:15

Charter's investor presentation regarding its proposed acquistion of TWC

See how bad Charter thinks Time Warner Cable is at being a cable company:

Charter Releases Investor Presentation Regarding Proposed TWC Combination
Charter Press Release, PR Newswire - January 14, 2014
»www.prnewswire.com/news-releases ··· 991.html

PDF presentation is at: »phx.corporate-ir.net/External.Fi ··· ZT0z&t=1

telcodad
Premium
join:2011-09-16
Lincroft, NJ
kudos:15

Re: Charter's investor presentation regarding its proposed acquistion of TWC

Time Warner Cable has now countered with a presentation of its own on its web site today: »ir.timewarnercable.com/files/TWC ··· INAL.pdf

motorola870

join:2008-12-07
Arlington, TX
kudos:4
Reviews:
·Time Warner Cable
said by telcodad:

See how bad Charter thinks Time Warner Cable is at being a cable company:

Charter Releases Investor Presentation Regarding Proposed TWC Combination
Charter Press Release, PR Newswire - January 14, 2014
»www.prnewswire.com/news-releases ··· 991.html

PDF presentation is at: »phx.corporate-ir.net/External.Fi ··· ZT0z&t=1

sorry but Charter is not getting the entire picture. Yes TWC has issues but here is the thing Charter isn't in nearly the amount of Fios overbuild areas that TWC is and not to mention here are some no starters:

saying that Whole Home DVR must go
4 DVRs for $20 well yeah it is a good deal but no multiroom function isn't that great.
making everyone pay for 30Mbps internet when there are cheaper options available

there are more and that map they show TWC owning systems well it isn't even accurate as they show TWC owning systems on the Colorado/New Mexico state line along within the Texas Panhandle.

I think this deal should be blocked on the basis that the consumer will lose with features taken away. Sorry I am not buying Charter's motives and hope they lose in their bid because they don't have a good rap sheet especially here in Texas with them abandoning rural areas and then they sold some system to a crooked company that wound up selling all of the headend gear in the small systems called almega cable.

IowaCowboy
Iowa native
Premium
join:2010-10-16
Springfield, MA
kudos:1

Hope the deal fails

Don't want to see Charter in Maine. Not as consumer friendly as Time Warner. They don't allow customer owned modems and you'd be stuck using their gateway instead of a plain old modem. I hate gateways.
kmg90

join:2002-08-25
Shawano, WI

Re: Hope the deal fails

Click for full size
Click for full size
Click for full size
I'm breaking Charter's policy then as I still using my own modem and router for years and have not received any notices or warnings that tell me I can't...

I've had rarely any problems with Charter (other than occasional issues with renewing bundles and one summer of erratic Internet that was caused by wiring that was damaged by hungry squirrels)

n2jtx

join:2001-01-13
Glen Head, NY

Tender Offer

Charter is certainly free to make a tender offer to all shareholders of TWC for their shares. If the shareholders don't bite then Charter should go somewhere else. "NOT FOR SALE" should be clear enough by then.
--
I support the right to keep and arm bears.

telcodad
Premium
join:2011-09-16
Lincroft, NJ
kudos:15

Time Warner Cable Investors Want at Least $140 a Share

On the Bloomberg site this morning:

Time Warner Cable Investors Want at Least $140: Real M&A
By Brooke Sutherland and Tara Lachapelle, Bloomberg - January 15, 2014
»www.bloomberg.com/news/2014-01-1 ··· m-a.html

motorola870

join:2008-12-07
Arlington, TX
kudos:4
Reviews:
·Time Warner Cable

Re: Time Warner Cable Investors Want at Least $140 a Share

said by telcodad:

On the Bloomberg site this morning:

Time Warner Cable Investors Want at Least $140: Real M&A
By Brooke Sutherland and Tara Lachapelle, Bloomberg - January 15, 2014
»www.bloomberg.com/news/2014-01-1 ··· m-a.html

there we go again bloomberg making up words that aren't true the investors have already said they want near $160 a share. They have already grossly mis-worded a statement by the TWC CEO and he came out saying that wasn't in a rush to sale the company.

telcodad
Premium
join:2011-09-16
Lincroft, NJ
kudos:15

Re: Time Warner Cable Investors Want at Least $140 a Share

said by motorola870:

said by telcodad:

On the Bloomberg site this morning:

Time Warner Cable Investors Want at Least $140: Real M&A

there we go again bloomberg making up words that aren't true the investors have already said they want near $160 a share. They have already grossly mis-worded a statement by the TWC CEO and he came out saying that wasn't in a rush to sale the company.

Well, good luck to them getting $160/share, as TWC's shares have only managed to get as high as only $136.46 so far today with all the news.

motorola870

join:2008-12-07
Arlington, TX
kudos:4
Reviews:
·Time Warner Cable

Re: Time Warner Cable Investors Want at Least $140 a Share

charter has issues of their own. Besides I think TWC is probably worth the $160 a share more like Charter just trying to get a good deal. Also if this merger was to go through we are talking major customer defections:
no customer owned modems
no multiroom DVR
possibility of Cable Card support being ditched
end of cap free internet
only two tiers 30/4 and 100/5 which are grossly oversold in Charter areas.
end of navigator and the improvements that have been made
end of direct forum support here at broadband reports for TWC customers.

Not a good situation. Maybe if enough people bring this up during the FCC and FTC review it would be blocked.

atxvdog

@17.105.137.x

300/20 in 2014

According to the TWC pdf they are moving to 300/20 in 2014 very exciting...

motorola870

join:2008-12-07
Arlington, TX
kudos:4
Reviews:
·Time Warner Cable

Re: 300/20 in 2014

hmm probably 24 DOCSIS downstream channels combined with 4 upstream DOCSIS channels. Right now Dallas has about 100Mbps upstream capacity per node.

I know that LA and NYC are likely to be the first systems get 300/20 as LA reclaimed a ton of analogs and NYC is 100% digital. I could see:
Austin TX
Dallas TX
NYC
LA

having 300/20 this year

JamesPC

join:2005-10-12
Orange, CA

Time Warner Cable

They have had excellent broadband service ever since I started using them in my area around 1998.
markopoleo

join:2003-04-02
Bonne Terre, MO

Charter needs to focus on itself instead of criticizing others.

Charter is notorious for terrible tech support. How about fix that first..
Charter is notorious for taking time to fix problems. Fix that first..
Charter can't even locate customers addresses that have service. Hey charter still have not found my house to fix the signal issue? Bet you could if i did not pay bill. I kid you not, Charter could not find my house after five tries. They just stopped trying. lol

Yes most cable companies are bad. But Charter internal struggles are pretty well known. Charter would be a better business if they changed the way its upper management works, they should not even need a CEO.
Chuck_IV

join:2003-11-18
Connecticut

Re: Charter needs to focus on itself instead of criticizing others.

Agree, but that's the problem. Tommy isn't interested in focusing on bettering Charter. His SOLE focus is on lining his own pockets with a fat boyout/bonus that will come from a merger.

Since the day he took over, his focus has been short term. He quickly(within 6 months) undid many customer friendly things that had been done in years past, in the hopes of inflating Charter financially and giving it a better opportunity of a merger, customers be damned.

He could care less what the company looks like, post merger, as long as he gets his chunk o' money when the merger goes down.
Poetique

join:2007-08-05
Auburn, AL

Nickle-and-dime

"TWC "has fallen into the trap of nickel-and-dime charges to customers."

Gee. Nickle-and-dimed. The exact way I feel every time I get a bill from Charter.

telcodad
Premium
join:2011-09-16
Lincroft, NJ
kudos:15

Comcast and Charter getting together again?

Looks like Comcast and Charter might be getting together again to bid on TWC:

Exclusive: Charter, Comcast in renewed talks on Time Warner Cable bid
By Soyoung Kim and Liana B. Baker, Reuters -January 15, 2014
»www.reuters.com/article/2014/01/ ··· 20140116
quote:
Charter Communications Inc reached out to Comcast Corp this week about teaming up to buy Time Warner Cable Inc, after the larger rival rejected its $37.3 billion takeover bid, according to people familiar with the matter.

Charter approached Comcast on Wednesday to discuss carving up the second-largest U.S. cable company's systems and subscribers, the people said, asking not to be named because they were not authorized to speak with the media.

Charter, the No. 4 U.S. cable provider, and Comcast, the top U.S. cable provider, are in preliminary discussions about how to structure a potential alliance, the people said. One possibility is that Charter buys all of Time Warner Cable and sells off some of its markets and subscribers to Comcast, one of the people said.


fredbisard

@charter.com

could not agree more

seems most of you people here get it, as far as charter being a company that is ran by a (greedy/ignorant) moron.

yes, only having 2 tiers is totally asinine and a $200 install fee on the 100/5 tier, at that! i'm only on computer for maybe a couple hours a day, why the heck do I need to spend $50+ for that?

the loss of direct support was really a killer as those folks were about the only way you could ever get anything accomplished dealing with support and then killing off customer owned modems was another totally brilliant move.

I wish/hope this turns on charter and twc buys charter out instead!
ghostrider56

join:2010-12-29
Independence, OH

Re: could not agree more

I think Google should buy Time Warner Cable and expanded on the fiber network over time.