Leading U.S. cable TV provider Charter Communications, IncCHTR looks to spend $5.5 billion on its network to introduce higher-speed broadband connections.
The overhaul will likely cost about $100 per home passed and will be over by the end of 2024, CEO Chris Winfrey said at an investor event, Bloomberg reports.
Cable, phone, and satellite companies contested for $100 billion in federal funds to expand broadband service to poorer and more rural parts of the country.
Charter and Comcast CorpCMCSA replaced their coaxial wires with DOCSIS 4.0 technology that uses amplifiers to allow existing cable systems to offer multigigabit speeds.
In November, Comcast shared plans to spend $200 per home passed to upgrade its systems using amplifiers.
That number compared to about $1,000 per home for installing new fiber optic cable lines.
Free cash flow totaled $1.5 billion, down by 39.1% Y/Y, primarily due to the capex associated with Charter’s rural construction initiative. The company held $480 million in cash and equivalents.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
