On August 17, Charter declined 5.18% in regular trading, trading at $146.4/share, with turnover of $63.40 million. The drop reflects mounting pressure from broadband subscriber erosion and heavy debt associated with its pending Cox Communications acquisition.

Charter recently priced a $4.75 billion senior secured notes offering across four series, with coupon rates ranging from 6.05% to 7.85%, significantly increasing the company's debt burden. Net proceeds are intended to partially fund the Cox Communications acquisition. Meanwhile, Q2 results showed net broadband subscriber losses of 172,000, and management guided for full-year standalone EBITDA to decline approximately 1% year-over-year. Morgan Stanley warned that Starlink's expansion will continue to pressure cable broadband, projecting Charter could lose 400,000 to 500,000 broadband subscribers annually.

Within the Cable & Satellite sector, the broader group faced significant selling pressure. Cable One fell 12.11%, Optimum Communications declined 4.02%, while EchoStar rose 1.19% and Sirius XM gained 0.72%.

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