The CEO of cable operator Charter Communications said he would love to see rebates for pay TV subscribers for sports events canceled amid the novel coronavirus pandemic, saying: 'We would love to see our customers relieved.' Details:
"We would love to see our customers relieved if they can be” for sports events that don't take place," says Tom Rutledge.
Charter chairman and CEO Tom Rutledge on the company's Friday first-quarter earnings conference call said that he and his team have talked "for years about the reality of programming costs and how sports drives" most of them. He highlighted that monthly video programming wholesale costs for pay TV giants are in the upper $60 range, with more than half of that coming from sports.
The Charter CEO said one key challenge is that many sports have not been officially canceled so far, but delayed, saying "we will see what happens" ultimately in terms of delayed sports events. He also highlighted that in the end it would come down to whether athletes are willing to give up some of their pay so rebates can be passed through to pay TV customers.
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