Mediacom reported the loss of 17,000 video subscribers in the third quarter of this year, leaving the New York-based, mid-sized MSO with 862,000 residential pay-TV customers across its two operating units. Mediacom ended the third quarter of 2014 with 900,000 video subscribers.
The performance compares favorably to the 19,000 video customers the company lost in the third quarter of 2014. Mediacom is privately held but publicly reports earnings as a condition of the bond debt relating to the $600 million purchase of the company by CEO Rocco Commisso in 2011.
Also relating to the intricacies of that transaction, Mediacom LLC and Mediacom Broadband LLC report their earnings separately. The company does not conduct a quarterly conference call with media investment analysts.
The company reported broadband customer growth of 16,000 in the third quarter of this year, upping its ISP footprint to nearly 1.07 million. Both Mediacom LLC and Mediacom Broadband LLC reported that the revenues they each receive from high-speed Internet services grew just over 11 percent.
Overall revenue for Mediacom Broadband LLC was $245.4 million in the third quarter, up 3.3 percent over the prior-year period. Mediacom LLC's revenue came in at $186.2 million, a 4.7 increase over the third quarter of 2014.
As one of the few independent cable assets of any notable size in the U.S., Mediacom continues to be subject to acquisition rumors.
For more:
- read this Mediacom press release
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