Cogeco loses TV, telephone subscribers
Media | 10/31/2013 9:38 pm EDT
Cogeco Inc. lost 14,210 cable television subscribers in the fourth quarter, the company said in a quarterly financial statement released Thursday.
In its cable segment, Cogeco said it had 1,065,075 television subscribers at the end of the quarter on Aug. 31, 2013, down 14,210 from the previous quarter. The company reported having 562,260 telephone subscribers, a loss of 2,124 from the previous quarter, while gaining a net 1,097 Internet subscribers during the same three-month period.
Cannacord Genuity analyst Dvai Ghose said in a research note that the net loss of 12,021 subscribers across all segments was “much worse than our 259 net loss estimate and consensus net loss of 1,781 driven by a significant decline in cable subscribers and an unexpected decline in telephony
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