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Driven by the Treasury's need for cash, Cable seemed rushed and nervy.
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Cash from cable subscribers would supply the remaining amount needed to complete the laying of the cable.
Advertisers are moving more cash to cable, cutting into the networks' quarterly profits.
Mediacom Communications, based in Middletown, N.Y., said that it would pay $2.2 billion in cash for cable operations serving 840,000 customers in Georgia, Illinois, Iowa and Missouri.
A lot of cash and cable subscribers now hang in the balance.
Comcast Sees More Subscribers, More Cash Flow Cable giant Comcast said operating cash flow gained 17% while revenue surged 20% in the third quarter.
Comcast Sees More Subscribers, More Cash Flow Cable giant Comcast (nasdaq: CMCSK) said operating cash flow gained 17% while revenue surged 20% in the third quarter.
In 2008, broadcast stations garnered slightly more than $500 million in retransmission cash from cable, satellite and telecommunications operators; SNL Kagan expects those fees to rise to $1.2 billion by 2011.
Although the main factor has been the growing sums of cash the cable operators have to fork over to NBC, ESPN and other networks for their programming, the operators themselves are demanding higher fees from consumers for the converter boxes that unscramble, record and display shows.
Some industries were not well-suited for debt finance: the mobile-phone business did not generate much upfront cash and cable-TV firms had big start-up costs before subscription revenue flowed.
The analysts and bankers said that the only way a minority portion would be attractive was if it came with a piece of the Mets' two-thirds interest in SNY, their cash-producing cable network.
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