Seeking to put to rest speculation that it plans to pounce into the fight for AT&T Broadband, Charter Communications Inc. chairman Jerry Kent said he was not talking with AT&T Corp.
During Charter's conference call to discuss its surprisingly strong second-quarter results, Kent said he would perhaps be interested in picking
up pieces of AT&T Broadband that might become available.
"Charter will not take unnecessary risks or dilution" by pursuing a major
"Our corporate ego is still focused on being the best in the industry."
As some other operators experience problems, Charter's financial performance
beat expectations. Revenues increased 16 percent for the three months ended June, while
cash flow rose 14 percent.
The company's high-speed-data business is generating a 38 percent cash-flow margin,
up eight points from the first quarter. The margin on digital cable approaches 65 percent,
up two points.
Charter's companywide cash flow margin totaled 46 percent.