The company and key investor Carlyle Group together sold approximately 38.5 million shares priced at $15 each, netting $576.9 million. CommScope had expected its IPO to price at $18 to $21 a share. The company said it will use its share of the proceeds to redeem $399 million in senior notes due in 2019.
Attendance at this week’s SCTE Cable-Tec Expo in Atlanta was somewhere in the neighborhood of 9,8000, which was a 6 percent increase over last year’s event that was held in Orlando. Attendance at the flagship event by the Society of Cable Telecommunications Engineers was boosted by the “DOCSIS 3.1 engineering” and “Creating the cable generalist” pre-conference symposiums.
Twitter has set a price range of $17 to $20 per share for its initial public offering and says it could raise as much as $1.6 billion in the process. The pricing is relatively conservative considering that Twitter is poised to pull off the year's hottest IPO.
Time Warner Cable and Al Jazeera America say they've reached a deal for the cable company to start carrying the channel. Al Jazeera America will be launched over the next six months on digital basic cable services in Time Warner Cable as well as Bright House Networks markets, including New York, Los Angeles and Dallas.
TiVo is enabling a feature that lets people watch recorded movies and shows while they're away from home. The feature comes with higher-end models of TiVo's Roamio digital video recorders, but wasn't working when the devices launched in August.
amsung Electronics Co. reported another record quarterly profit as a revival in its semiconductor business and strong shipments of cheaper handsets offset flat sales of high-end smartphones. The South Korean company, which is the world's largest maker of smartphones, memory chips and televisions, said Friday its July-September net profit rose 25 percent over a year earlier to 8 trillion won ($7.5 billion).
Cox Communications announced today that it has tapped seasoned telecom executive Steve Rowley to lead Cox Business. Rowley replaced Phil Meeks as the head of Cox Business following the departure of Phil Meeks to Time Warner Cable earlier this year.
AT&T reported its U-verse TV and Internet service reached 10 million subscribers during the third quarter, with one of the biggest gains in TV viewers in the history of the service. AT&T's third-quarter profit and revenue increased as the nation's largest telecommunications company added more smartphone and broadband subscribers.
TV apps and recommendation engines are two ways that cable operators can keep subscribers from wandering away into the arms of another service provider. Wednesday’s Cable-Tec Expo session “The evolving customer experience” provided an overview of TV apps, personalized recommendation engines, and cloud-based services.
Earlier this week, Paul J. Cancienne II joined Charter Communications as vice president, legislative affairs. In this role, Cancienne oversees Charter's federal legislative efforts and is based in the company's Washington, DC office.
Comcast Business recently announced that Jeff Allen was named vice president of the West Division. In his new role, Allen will oversee market development for Comcast Business in seven regions across 11 states.
Shaw Business signed a multi-year agreement with Canad Inns to deliver its video, voice and data services. Shaw will serve 16 Canad Inns locations across Manitoba and in Grand Forks, North Dakota, including hotels, restaurants and various other attractions.
The Society of Cable Telecommunications Engineers (SCTE) Foundation announced that it had surpassed the $2.2 million mark in money raised to advance the capabilities of the cable telecommunications engineering workforce as part of its Advancing Cable Excellence (ACE) campaign. At a meeting of the SCTE Foundation Board Wednesday at SCTE Cable-Tec Expo, the Foundation recognized more than a dozen new donors.
By demonstrating the ability to increase the traffic carrying capacity by 2.5 times, this trial showed how Comcast’s existing fiber network can scale to keep pace with the bandwidth demands of cloud computing, video, and multimedia applications, as well as data center connectivity.
Sony is hoping that providing sharable movie clips and extras like deleted scenes will prompt more people to buy digital movies. The initiative gives people who buy movies on Vudu the ability to share dozens of clips or pieces of behind-the-scenes footage on Facebook and Twitter. In each case, a link takes users to a website with the clip embedded.