The face of cable television is changing as phone companies move in, offering high-speed Internet, high-def TV, and on-demand video, the Wall Street Journal reports. But cable giant Comcast, with the nation’s largest subscriber base, is fighting back, gaining 10 phone users for every video subscriber it loses and cutting into its competition. Nevertheless, its stock is hurting.
Comcast’s inability to stem the bleeding of its core business continues to push share prices down; it closed at $20.09 yesterday. Execs predict “the stock will take care of itself" as they look for new business opportunities and push HDTV and phone offerings. Investors worry a move to buy a wireless company or content provider could hurt even more.