The cable industry has seen an consistent decline in television subscribers in recent years as customers engage in “cord cutting,” the name for abandoning traditional cable TV for Internet and à la carte options. Speaking at a conference in Las Vegas, Roberts called Comcast’s first subscriber gain in 6 years ”the beginning of an exciting reversal of trends.”
Comcast stock spiked 4% immediately after the announcement, then settled in at a 2.57% increase as of 2:20pm EST. Shares are up nearly 38% over the last year.
The company won’t provide specific numbers until it reportsfullearnings on January 28th. And even then we won’t know if this tick up in subscribers is a brief bump in a larger story of decline or the start of a turnaround, as Roberts suggests.
Centurion Corporation said it has agreed to acquire a piece of land located at Seberang Perai Selatan in Penang, Malaysia, for RM6.3 million ($2.45 million). This marks the group’s first acquisition in another state of Malaysia outside of Johor.
Read ... Source: The Edge Singapore
Full article at: The Edge Singapore
Aug 12 2014, 9:21am CDT
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