It’s hard to begrudge TiVo CEO Tom Rogers for sounding cocky on a day when his company’s stock shot up 10.1%. That was the result of last night’s announcement that AT&T agreed to pay $215M to resolve the DVR pioneer’s patent infringement law suit. The victory, following a similar one last year with Dish Network, means “we won’t hesitate to be as aggressive as we need to be” with other challenges including one against Verizon, Rogers told bankers and analysts at Citigroup’s Global Entertainment, Media and Telecommunications Conference. The news helped to support his larger theme that TiVo has finally turned the corner after years of declining subscriptions and financial losses. “We are getting much, much closer to our goal of EBITDA (cash flow) profitability,” Rogers says. TiVo subscriptions will rise as the company establishes itself as an ally for cable and satellite providers who feel threatened by Google and Apple’s efforts to break into the TV business. Earlier Wednesday Charter CEO Mike Lovett told the Citigroup audience that his company’s plan to offer TiVo DVRs is “a game changer” and “a way to take it to the
That was quick. Just days after Tom Rutledge shocked the cable industry by leaving Cablevision, he has emerged as CEO of Charter. The No. 4 cable operator is still struggling to regain its momentum since 2009 when it emerged from bankruptcy protection. That’s been tough because many of Charter’s systems are in rural areas where satellite companies are popular. But Charter’s focused effort to build its broadband business, and make needed upgrades to its systems, has enabled it to outperform many of its cable industry peers. Charter shares are up 3.4% in after hours trading, recovering from the 3.3% drop during the day. Here’s the company’s release:
ST. LOUIS, Dec. 19, 2011 — Charter Communications, Inc. (NASDAQ: CHTR) (“Charter” or the “Company”) today announced that its Board of Directors has concluded its previously announced CEO search process and appointed Thomas M. Rutledge as President and Chief Executive Officer. Mr. Rutledge joins Charter immediately and will become the President and Chief Executive Officer effective February 13, 2012. Mr. Rutledge will also become a member of the Charter Board of Directors at that time.
Charter Communications continues to hope that technology will enable it to become cable’s little engine that could. CEO Michael Lovett says that his company’s arrangement to sell TiVo DVRs to customers — which is just getting started in Ft. Worth, Texas — is “a pretty dynamic game-changer.” He says the product “allows us to play offense” against satellite companies and telcos led by AT&T’s U-verse that have targeted the No. 4 cable operator, which emerged from bankruptcy protection two years ago. “We anticipate marketing this product aggressively.” The company also has big plans for on-screen navigation; it recently began to offer its broadband customers aggregated video listings for Hulu, Netflix and Amazon. But executives say they plan to resist broadcaster efforts to negotiate retransmission consent deals with high payments. “At what point does the customer say enough’s enough?” CFO Christopher Winfrey asks.
ST. LOUIS, Oct. 11, 2011 /PRNewswire/ — Charter Communications, Inc. (NASDAQ: CHTR) (“Charter” or the “Company”) today announced that it is implementing a CEO succession plan following President and Chief Executive Officer Michael J. Lovett advising the Board of Directors of his personal decision to step down as President and CEO on April 30, 2012 or earlier if a successor is appointed before that time. Charter’s Board of Directors will begin the process of evaluating candidates, and Mr. Lovett will remain in his present positions during this transition period. Mr. Lovett joined Charter in August 2003 and was named President and Chief Executive Officer in April 2010. Prior to that, he served as Charter’s Executive Vice President and Chief Operating Officer.