Verizon Communications chairman and CEO Ivan Seidenberg said he sees
parallels between the onset of declining cable TV subscriptions and
consumers cutting their phone company landlines, speaking at an
investors conference Thursday.
"Cable is probably starting to
experience what we experienced five to six years ago [in voice service],
which is the low end is disappearing into other alternatives," said
Seidenberg, speaking at the Goldman Sachs Communacopia conference in New
York. "The first thing when that happens is, you deny it. I know the
drill. I've been there."
Added Seidenberg, "Young people are
pretty smart. They're not going to pay for something you don't have to
pay for. You've got to watch the market... Over-the-top is going to be a
pretty big issue for cable."