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Charter numbers flatter over tax changes, but hard work ahead

The first set of combined Charter figures are out, although they show little about how the business will look going forwards, with major adjustments in taxation and pensions freeing up both cash and profit for the year, and making this look like Charter has already turned around Time Warner Cable. But this is just the honeymoon, and the hard work converting some 40% of Time Warner Cable’s footprint and 60% Bright House’s to all digital cable networks, is still to come. The company said it will achieve this in two years, which will throw a massive capex upgrade at the problem, but the repayment will be the ability to offer more modern video and broadband services, and faster broadband speeds.…

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