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Charter Stock Sinks As Internet Subscriber Losses Worsen; Could A Comcast Merger Be The Next Move?
Charter Communications’ shares fell 5% in early trading after it reported losing 233,000 internet customers in the third quarter, adding to concerns about competition and the outlook for its broadband business. The decline has fuelled speculation about a possible merger with Comcast, which faces similar pressures as it prepares to separate NBCUniversal from its connectivity business.
The losses comprised 156,000 customers at legacy Charter and 77,000 at legacy Cox, which Charter acquired for $34.5 billion in August; the combined company had 34.3 million internet customers at quarter end. Video customers fell by 77,000 to 13.8 million, while wireless added 1.8 million customers over the past year, reaching 13.5 million. Revenue rose 9% year on year to $14.9 billion, and chief executive Chris Winfrey outlined $2 billion in planned cost cuts and reaffirmed $1 billion in merger synergies; the shares had fallen 43% in 2026 to date.
In short
- Charter shares fell 5% after internet losses widened.
- The company lost 233,000 internet customers in the quarter.
- A Comcast tie-up is being discussed amid broadband pressure.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
A Comcast merger could help Charter respond to broadband competition by combining scale, reducing duplicated costs and strengthening investment capacity. With subscriber losses mounting and both companies under pressure to adapt, a deal could create a more resilient connectivity business and give management room to improve service and compete for customers.
The case against
A merger could add complexity and debt without addressing why customers are leaving, while further concentrating the broadband market. The companies may be better served by improving their own offers and operations; projected savings and scale benefits are uncertain, and combining two pressured businesses could make those challenges harder to manage.
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