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Cable Companies Have Another Cord-Cutting Problem: Broadband
- More consumers are using wireless for home internet access
- Cable is set to suffer worst-ever loss of internet customers
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Cable companies have long contended with consumers who drop their TV bundles for streaming. But Comcast Corp. and Charter Communications Inc. are also losing subscribers on another front: broadband.
Cable providers may lose up to 481,000 internet customers in the third quarter, according to estimates from SNL Kagan and Bloomberg Intelligence, the worst ever decline for the industry. The expiration of a government subsidy program and phone companies signing up home internet customers for wireless connections help explain the losses.