Verizon (NYSE: VZ) has started to give the cable companies fits with its new fiber-based TV and broadband services. The offering has all of the advantages of cable products and claims to have faster connection speeds. Even if it does not, cable now has direct competition from a company with a hefty balance sheet and plenty of landline and cellular customers who may want to add another service.
Cable did still hold one fortress which was its wiring of large apartment buildings where it could pick up hundreds of customers at a time. There is a breach in the wall around that business now as well.
According to The Wall Street Journal "Verizon’s fiber-optic service, mainly available to suburbanites, is making a big push into Manhattan with a deal to connect an 11,232-unit apartment complex."
If Verizon can duplicate the deal in a number of other very large apartment buildings in it service area, cable will have lost one of its best advantages which was its exclusive access to this kind of real estate.
Douglas A. McIntyre
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