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Is Verizon (VZ) FiOS Hurting Cablevision (CVC)?

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By Douglas A. McIntyre Published
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Cablevision (CVC) announced earnings today. The most notable piece of news was that Verizon’s (VZ) FiOS fiber-to-the-home business is affecting cable subscriptions at about the rate that Cablevision has been projecting for some time, according to MarketWatch. 

That comment set off a bit of a debate. MarketWatch checked with an industry expert and "Tuna Amobi, analyst at Standard and Poor’s, says it seems apparent that FiOS, now available in about 17% of Cablevision’s pool of potential customers, is having an effect. The rate of monthly cancellations, known as churn, went up in the second quarter in basic video, digital video and broadband."

Another survey of digital TV customers in Massachusetts showed that Comcast (CMCSA) and the satellite TV companies were also losing business to Verizon’s new fiber product.

All of this is good news for the big telecom. It has committed to $23 billion in expenditures to build out its fiber project and Wall St. wants some evidence that there will be a big return.

The polls are just closing, but the early results are good.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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