Cox adds up Katrina rebuild costs: 'snapshot' is $45.5m in fourth quarter '05.(Cox Communications Inc., Hurricane Katrina 2005)
Multichannel News, November, 2005 by Farrell, Mike
Cox Communications Inc. is now estimating that rebuild costs relating to the damage to its New Orleans system from Hurricane Katrina will total about $45.5 million in the fourth quarter. Cox, which had about 270,000 cable subscribers in New Orleans before Katrina hit on Aug. 29, said in a quarterly securities report filed on Nov.
10 that it also expected to lose about $44.9 million in revenue in the fourth quarter as a result of the devastating hurricane. While it is likely that the total costs of rebuilding the New Orleans system will be substantially higher, Cox spokesman David Grabert said the fourth-quarter figures are a snapshot of where Cox is at the moment. "We're not by any means complete with the assessment of the damages in New...
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