Cable Capex Improves

Cable World,  Dec 16, 2002  

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Byline: JONATHAN BLUM, KAGAN

There was much MSO bragging about reduced capex during last week's Wall Street analyst dog-and-pony shows. It was for good reason: Both in terms of cash flow and in absolute dollars the capital expenditure positions for just about all MSOs improved in 2002. We estimate that Cox will lead the sector with a YE02 capex-to-cash flow ratio that improved by around 33%. The sleeper here is beleaguered Charter Communications. Their capex/cash flow jumped by a nice 24%.

For more a further breakdown of MSO financials, see "Cable TV Investor" at www.kagan.com/cw.

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