Local Cable Monopoly Charter Communication’s CEO Carl Vogel resigned yesterday amid a decline in subscribers and an accounting probe. Charter’s stock closed yesterday at $1.92/share, a 52 week low.
I think the cable folks have pushed the envelope with respect to pricing and “product”. I can’t imagine much growth is left in that business. The action is certainly shifting to the internet. Former Microsoft exec Paul Allen is Chairman of Charter. Allen went on a cable acquisition spree years ago, which loaded up charter with $19billion in debt (quite a bit, even for a billionaire).