DirecTV says it added 100,000 subscribers in fourth quarter

Reuters News
Posted: Jan 08, 2013 5:49 PM

By Liana B. Baker

(Reuters) - DirecTV's <DTV.O> Chief Executive said on Tuesday that the top U.S. satellite provider added 100,000 net subscribers in the fourth quarter and is still mulling an acquisition of Vivendi's Brazilian telecom unit, GVT.

CEO Mike White said DirecTV had a "good quarter" and that the churn, or rate of cancellations was better than expected.

"The U.S. business delivered 100,000 net adds. That was significantly above where we thought we'd be," he said, speaking at an investor conference in Las Vegas.

The company's Latin American unit, considered by investors to be the company's growth engine, also exceeded expectations in the fourth quarter, White said.

"Latin America had another record quarter and both exceeded internal and external expectations from a net adds standpoint," White said," without providing specific subscriber numbers.

The executive said DirecTV remained interested in acquiring GVT, the Brazilian telecom unit of France's Vivendi. He said the process was going slower than expected. White called it a potential "tuck in" acquisition that was not a "must-have" buy.

Reuters reported in November DirecTV was among one of the companies that had bid on GVT.

White said he expects to receive more detail on the sales process from GVT "sometime in the first quarter" and that DirecTV will communicate with a "bit more clarity" on the issue in the next couple of weeks.

He said GVT "will have to make a decision on what they're seeing" including "interest levels" from potential buyers.

(Reporting By Liana B. Baker; Editing by David Gregorio)