...February 5, 2024 We have modestly lowered our broadband subscriber forecast. We expect Charter will continue to face headwinds from fixed wireless access (FWA) competition into 2025, though we anticipate these pressures will likely begin to ease as the wireless carriers exhaust their spare network capacity. More specifically, we project that FWA will add about 3.3 million customers in 2024, 2.5 million in 2025, and about 1.7 million in 2026, which is down from a peak of about 3.7 million in 2023. We believe Charter can partially offset this loss of market share to FWA by expanding its footprint. Separately, the company currently has 5 million subscribers enrolled in the Affordable Connectivity Program (ACP), which will run out of funding in April 2024 if not extended by Congress. Most of Charter's ACP recipients were customers prior to enrolling in the program and very few of used the $30 subsidy to upgrade to faster speeds, thus we expect the effects of the program's expiration will be...
