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4-Traders Homepage  >  Equities  >  Nyse  >  Time Warner Cable Inc    TWC

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Time Warner Cable : customers should not expect immediate changes

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05/24/2016 | 09:19am CEST

May 24--In the aftermath of a landmark merger, the cost of services and products will not change immediately for Time Warner Cable customers, according to Charter Communications.

As announced last week, Charter has completed its purchase of Time Warner Cable and the small cable provider Bright House Networks.

The transactions have turned a mid-size cable company into the nation's second-largest home Internet provider and third-largest in video.

As a result, Charter is serving 25 million customers in 41 states.

Those include the 14 million who have been paying their monthly bills to Time Warner Cable.

Subscribers will be notified of any future changes to their products, services or pricing, the Stamford, Connecticut-based Charter said on its website.

Time Warner Cable clients will want to familiarize themselves with a different marketing name -- Spectrum.

Charter intends to phase out the Time Warner Cable and Bright House names.

The combined company is Charter Communications, and it will be marketed under the Spectrum brand name.

"In the coming months," the Charter Spectrum website says, "you'll hear more from us as it relates to network, product and service improvements."

Company spokesman Justin Venech said Monday that Time Warner Cable customers will not see any immediate changes.

"For the coming months," he said in an email, "Time Warner Cable, Bright House Networks and Charter Spectrum will continue offering their current suite of advanced products and services to customers in their markets. We talk about the Charter playbook, which (Charter president and CEO) Tom Rutledge and the management team have been implementing at Charter over the past 4 years and which has led to the successes Charter is seeing today.

"In the coming months," he said, "we will be applying that playbook across the footprint of the combined company."

Those plans include making all the Time Warner Cable systems all-digital and increasing Charter's workforce, he said in the email. Charter will add another 20,000 jobs to its current combined workforce of more than 90,000 employees.

The newly merged company, Venech said, will "improve care by insourcing and bringing back to the U.S. oversees TWC call center jobs."

A "superior product" will be launched at highly competitive prices with such consumer and broadband-friendly policies as minimum speeds of 60 Mbps with no data caps, no usage-based pricing and no modem lease fees, he said.

Venech said the company will contact customers directly to let them know when they will begin seeing the Spectrum brand, new product enhancements and new packages.

Time Warner Cable subscribers will be able to maintain their current package of services if that's their preference, he said.

Charter paid about $60 billion for Time Warner Cable, The Los Angeles Times has reported, and it assumes $21 billion in that cable provider's debt.

Staff writer Michael Futch can be reached at futchm@fayobserver.com or 486-3529.

___

(c)2016 The Fayetteville Observer (Fayetteville, N.C.)

Visit The Fayetteville Observer (Fayetteville, N.C.) at www.fayobserver.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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