Multichannel
Economic storm clouds didn’t hurt Verizon’s FiOS TV high batting average in the second quarter.
The telco snagged 300,000 net FiOS TV subscribers for the three months ended June 30, to stand at nearly 2.52 million. However, the telco said it remains focused on cutting costs in its wireline unit–which saw quarterly revenue fall 5.2%–with plans to cut 8,000 jobs in the second half of 2009.
Verizon’s FiOS TV is now larger than Bright House Networks, which has about 2.4 million subscribers. The FiOS TV results, coming after two quarters of similar numbers of net adds, “were solid in what is normally a seasonally weak quarter, and in the wake of relatively slow rate of new passings in Q1,” Sanford Bernstein analyst Craig Moffett wrote in a research note. More…