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Verizon nears 5mn TV subs

US telco Verizon added 169,000 new customers for its ‘FiOS TV’ service in the first quarter of this year to reach a total of 4.9mn, and indicated that it sees strong growth opportunities for broadband, video and cloud services in 2013.

The company’s fibre-based FiOS network passed 17.8mn premises by the end of March, giving its video services a 34% penetration of these homes, while its broadband services achieved a 38% penetration with 5.6mn eligible homes taking FiOS Internet.

Verizon has been replacing high-maintenance portions of its residential copper network with fibre optics to provide enhanced services and to reduce ongoing repair costs, and migrated 83,000 homes to fibre in the first three months of 2013.

Lowell McAdam, chairman and CEO of Verizon commented: “Our strategic investments in wireless, wireline and global networks have given us the platforms to sustain momentum and take advantage of growth opportunities in key markets for broadband, video and cloud services.”

Total revenues across all operations remained stable at US$ 29.4bn (up 4.2% year-on-year), while EBITDA rose 12% to US$ 10.3bn, thanks to record margins and continued strong cash flow for its wireless operations.

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