Telecompaper

US cable operator Charter Communications reported third quarter revenues at USD 1.693 billion, up 3.8 percent on a pro forma basis. Adjusted EBITDA improved 7.8 percent to USD 606 million. The net loss attributable to shareholders widened to USD 1.035 billion from a loss of 322 million a year ago. The actual net loss was at USD 322, due mainly to the impairment of franchises, offset by an increase in sales of bundled services and improved cost efficiencies. The impact of the impairment on net loss was partially offset by USD 625 million in tax benefits associated with the impairment and the allocation of losses of USD 1.395 billion to noncontrolling interests as a result of the adoption of certain rules in January. Charter lost 46,500 basic video customers in the quarter but added 22,800 digital video customers. Broadband subscribers rose by 52,400 to 3.010 milllion, and telephony lines increased by 84,000 to 1.535 million. ARPU rose 8.2 percent from a year earlier on a pro forma basis to USD 115.26, driven by increased sales of The Charter Bundle. Charter was pleased with the bankruptcy court ruling in mid-October. The judge said the court would confirm Charter's pre-arranged reorganisation plan and issue a confirmation order within the next several weeks. Charter expects to emerge from Chapter 11 shortly thereafter.