DTT platform Boxer recorded a 7% decline in Q3 revenues for Swedish media group Com Hem.
The Com Hem cable segment grew by 1.9% as the Swedish operator prepares to merge with the Tele2 mobile network. Digital TV RGUs increased by 1,000 to 655,000, while customer churn is now at a record low of 12.4% down 0.4 percentage points compared to the previous quarter.
The new TV hub is in 42% of digital homes.
Boxer continues to face issues with churn that was down slightly at 16.4%.
Overall operating profit of SEK 275m increased by 7.8% compared to SEK 255m in the previous year.
Earlier this month the European Commission gave its approval to the Tele2 merger. The Commission found that the impact of the transaction on the market would be very limited due to the lack of the relative lack of penetration into the mobile market and of Tele2 into the fixed line business.
“We are very excited to enter the next chapter in the Com Hem story as part of Tele2 and we hope that you will join us for the next leg of the journey,” commented Anders Nilsson, CEO, Com Hem Group. “In addition to continuing efforts to increase customer satisfaction and create sustainable growth we will now start working on the integration of the two businesses to ensure that our combined talent, assets, products and brands reach their full potential.”
The last day of trading in Com Hem shares will be November 1.
