This Just In
By Staff -- Multichannel News, 9/16/2007 6:00:00 PM MT
Items:
Bresnan Tests Wi-Fi In Montana System
Charter’s New Debt Offering Deemed Pricier for Company
Alyssa Milano Hits Double With Lifetime, TBS Roles
'Rescue Me’ Finale on FX Drew 2.7 Million Viewers
Fox Business Net Will Launch In HD
Bresnan Tests Wi-Fi In Montana System
Billings, Mont. — Bresnan Communications has initiated a test of a Wi-Fi network covering a one-square-mile area of downtown Billings, offering free wireless access to its local high-speed Internet customers.
Bresnan spokesman Shawn Beqaj said the Wi-Fi trial is the first the operator has undertaken. At some point, he said, Bresnan may charge a nominal fee to allow non-subscribers to access the wireless network. The Billings system has just under 30,000 total subscribers.
The Wi-Fi network uses wireless routers from BelAir Networks, which connect to Bresnan’s existing broadband network via Data Over Cable Service Interface Specification 2.0 interfaces. Fujitsu Network Communications provided professional services to design and integrate the Wi-Fi solution.
Bresnan launched its small-scale test as municipal Wi-Fi networks in San Francisco, Atlanta, Houston and other cities have been thrown into limbo after Internet service provider EarthLink last month announced it would stop investing in Wi-Fi buildouts without having guaranteed sources of revenue (see “Muni Wi-Fi Stalls as EarthLink Retreats,” p. 14).
Charter’s New Debt Offering Deemed Pricier for Company
St. Louis — Charter Communications has amended a previously announced tender offer for its convertible senior notes, offering to exchange all $413 million of the convertible debt due in 2009 and increasing the total amount of the offering from $595 million to $793 million.
According to Charter, the amendments also include lowering the coupon on the debt from 7% to 6.5% and adjusted the initial conversion premium from 40% to 30%. In addition, Charter said it extended the expiration date of the offer by one day to Sept. 27.
Charter first announced the debt offering, where it would essentially swap about three-quarters of the 2009 notes ($309 million) for $595 million in 6.5% convertible notes due 2027, on Aug. 29. The deal would require Charter to pay higher interest for the debt, but would push out the maturity of those notes for almost 20 years, giving the company more liquidity.
Miller Tabak media analyst David Joyce said in a research note that the amended offering is worse for Charter because it boosts the number of potential shares the company would have to issue upon conversion — to about 38 million — and increases interest expense by about $4 million. Nevertheless, Joyce reiterated his buy rating on the stock and his $4-per-share 12-month price target.
With $19.6 billion in debt, Charter is the most highly leveraged cable company in the industry. Several weeks ago, chairman Paul Allen revealed in a Securities and Exchange Commission filing that he was considering several options for the St. Louis-based cable operator, including taking it private.
Alyssa Milano Hits Double With Lifetime, TBS Roles
New York — Cable loves Alyssa Milano.
Perhaps best known for roles on Charmed and Who’s the Boss?, Milano has signed on to star in Wisegal, an original movie for Lifetime, and has been named an online personality for the new baseball broadband channel, TBS Hot Corner on MLB.com.
Wisegal is a drama inspired by the true story of Patty Montanari, a woman who became a trusted confidant to the Mafia, only to realize that her romantic entanglement jeopardized her children. Set to air sometime early next year, the telefilm will be executive-produced by Joe Pistone, the FBI agent who infiltrated the mob and upon whom the 1997 theatrical Donnie Brasco was based.
For TBS, which for the first time is home to MLB’s Division Series and National League Championship Series, Milano will be featured regularly on the broadband site, which launched on Sept. 10. Beginning Sept. 17, she will contribute regular reports and features from MLB stadia as teams duke it out for playoff spots.
Milano, a Los Angeles Dodgers season-ticket holder and the author of the “Touch ’Em All” blog on MLB.com., will interview players, coaches and fans, and provide such features on calorie counting at the ballpark and the best in baseball attire. She certainly knows from the latter: she launched “Touch,” a women’s MLB apparel line this year.
'Rescue Me’ Finale on FX Drew 2.7 Million Viewers
New York — The season finale of FX’s Rescue Me drew 2.7 million viewers and averaged a 2.0 rating, according to Nielsen Media Research data the network released Friday.
The final episode of the show’s fourth season, which aired this past Wednesday, also averaged 1.84 million viewers in the key 18-to-49 demographic.
The drama’s final installment for the year saw a 27% and 29% increase in total viewers and viewers 18 to 49, respectively, compared to the prior week’s episode.
For the full season, Rescue Me’s numbers were slightly below its performance last year, its third season. This season overall the drama averaged 2.7 million total viewers and 1.8 million viewers 18 to 49, compared with 3 million total viewers and 1.9 million viewers 18 to 49 last year.
Ratings for the Rescue Me finale will also see a bump up after Nielsen numbers that reflect a week of digital video recorder data come in, according to FX spokesman John Solberg. The numbers that were available Friday only reflect live-plus-same-day data.
With live-plus-seven-day data, Rescue Me’s viewership typically sees gains of 20% to 30%, so the 18-to-49 number for the finale would wind up in the 2.2 million range, up from 1.8 million, Solberg said.
Fox Business Net Will Launch In HD
New York — Fox Business Network will sport a high-definition look when it debuts next month.
Multichannel News has learned that FBN (whose new logo is pictured at right) will launch in the HD format, with feeds produced from its state-of-the-art studios in Manhattan. The enhanced feed will be available to all FBN affiliates when the service begins competing against CNBC and Bloomberg TV Oct. 15.
DirecTV’s Web site lists FBN as one of the services it plans to launch shortly as part of its vastly expanded HD lineup (see “DirecTV Defines Its Plans,” page 6). It was unclear at press time if and when the service’s other affiliates — Comcast, Time Warner Cable and Charter Communications — would present FBN in HD.
Staffing also began to take shape last week as FBN, expected to launch in 31 million homes, named seven people who will perform hosting or other on-air duties and four executive producers.
The on-air talent will be familiar to Fox News Channel viewers, as each works for the cable-news leader and will continue to appear on its air.
David Asman, who joined Fox News in 1997 as a weekday anchor for Fox News Live, is currently the host of Forbes on Fox. Rebecca Gomez is a regular on Your World With Neil Cavuto and the Cost of Freedom business block on Saturdays. Dagen McDowell appears regularly on Your World With Neil Cavuto and Cashin’ In, while Cheryl Casone provides hourly market updates for FoxNews.com and partner site Yahoo! Finance.
Stuart Varney, previously the host of CNBC’s Wall Street Journal Editorial Board, has been part of FNC’s business team since 2004. He most recently has been a contributor and substitute host for Your World With Neil Cavuto. In addition, FBN will also feature Brenda Buttner of Fox News’ Bulls and Bears and business correspondent and Cashin’ In anchor Terry Keenan.
As for the production hires, FBN has secured executives from:
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CNBC, with Terry Baker, who will produce weekend and primetime hours;
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iVillage, with Brian Donlon, who will produce the network’s morning lineup;
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ABC’s Good Morning America, as Andrew Hoffman will be responsible for the service’s daytime content.
Fox News’ Gary Schreir, who will retain a consulting editorial role for Your World With Neil Cavuto and the news-net’s Saturday morning business block, is also on board for FBN’s late-afternoon and early-evening content.
FBN has not yet revealed its programming lineup.
—Mike Reynolds
Anchors Aweigh At Fox Business Network
09/12/2007Fox Business Net Launches Oct. 15
07/15/2007Cavuto On The Economy, FBN
10/13/2008FBN Elevates Glick To VP Of Business News
09/26/2007
