Charter Communications' new CEO Tom Rutledge offered a glimpse into his strategy for the mid-market MSO Monday and it centers around converting the nearly 8 million homes in its footprint that don't currently buy services from the cable company into customers.
Rutledge officially became Charter's CEO on Feb. 13, after a nearly 10-year tenure as chief operating officer at Cablevision Systems. While he admittedly has been on the job for just two weeks -- he claimed he was still learning how the elevator works at company headquarters -- Rutledge believes that Charter's main potential lies in the 12 million homes it passes. And he said that the company can gain additional scale by addressing the needs of that footprint rather than having to go on an acquisition binge.
With about 4.1 million basic customers, Charter has the lowest video penetration among the publicly traded MSOs at 35%.