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Broadband Gains Fuel Q4 Mediacom Growth

Mediacom Communications added about 12,000 broadband customers in Q4, three times the 4,000 it gained in the prior year, helping to drive strong financial growth at the mid-sized operator in the period.

Mediacom ended Q4 with about 1.3 million broadband customers. Video subscriber losses, at about 19,000 in the period, were slightly above the 17,000 it lost in the same period in 2018.

That broadband growth helped fuel a 3.5% increase in revenue to $513.9 million in the quarter. Adjusted OIBDA rose 8.2% to $212.3 million in the period. Capital expenditures for the quarter were $70.5 million, compared to $96.3 million in the prior year period.

For the full year, revenue was $2.03 billion at the mid-sized operator, up 3.8% from the prior year. Adjusted OIBDA increased 8.5% to $808 million for the full year. Capex was down about 11% to $296.6 million from $333.7 million, and free cash flow increased 31% to $418.9 million from $319.5 million in the prior year.

Back in December, Mediacom paid off its public bond debt, releasing it from the obligation to file financial reports to the public. The company said at the time that it may continue to make its quarterly financial statements public, although it was not required to do so.