FCC balks at freezing cable rates
Article Abstract:
The FCC, amid rising cable-TV rates, is expected to propose stronger rules for encouraging industry competition. A majority of FCC officials hope the moves will avoid rate freezes, which consumer groups and some public officials are demanding. A new FCC survey reports that in the 12 months ended Jul 1, 1997, regulated cable systems and unregulated cable systems raised their rates by 8.5% and 9.6% respectively across the US. Cable operators have added various new rate increases recently, most of which take effect in Jan 1998. The charges range from 7% in San Diego and Long Island, NY, to 17% in New England, according to incomplete FCC data. Cable rates have jumped significantly since the FCC sliced rates by a total of 17% in 1993 and 1994. The increases reflect increased customer value through improved service and more channels, plus higher programmer charges, according to the National Cable Television Association.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1997
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Adelphia will buy Century in $3.6 billion deal
Article Abstract:
Adelphia Communications Corp. is acquiring Century Communications Corp. for $3.6 billion in stock and cash. The merger of the two family-owned cable television service providers will create the nation's fifth-largest cable TV company with nearly five million subscribers. The new company will be controlled by Adelphia's current stockholders, the John Rigas family while Century Communications' Tow family will receive a 20% stake in Adelphia. The acquisition, Adelphia's fourth in as many months, lowered its shares by $2.625 to $54.50 while Century's stock closed up 10% to $39. The merger of these two relatively unknown service providers is a part of the ongoing consolidation within the industry and cable TV's effort to offer digital services to the consumer in competition with telecommunications companies.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1999
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