US satellite TV provider DirecTV added 100,000 net subscribers in the fourth quarter raising its total subscriber base to more than 20 million at the end of 2012. DirecTV's Chief Executive said on Tuesday DirecTV had a "good quarter" and the churn was better than expected. But the increase during the quarter was 25,000 less than the subscriber net gain during the same period last year when it added 125,000 subscribers.
It’s been a see-saw ride for DirecTV US in 2012. It gained 81,000 subscribers in the first quarter, lost 52,000 subscribers in the second quarter, and added again 67,000 subscribers in the third quarter. At the end of September 2012, DirecTV U.S. had 19.98 million subscribers. DirecTV ended 2011 with 19.89 million U.S. subscribers.
During an investor conference in Las Vegas, White said DirecTV is still mulling an acquisition of GVT the Brazilian telecom unit of France's Vivendi. But he added the process was going slower than expected. White said he expects to receive more detail on the sales process from GVT in the next couple of months.
White also said the company's Latin American unit, considered by investors to be the company's growth engine, also exceeded expectations in the fourth quarter, although he didn’t provide specific subscriber numbers. DirecTV Latin America provides services in at least 7 countries in the Latin American region.
Meanwhile, DirecTV Holdings and DirecTV Financing, indirect subsidies of DirecTV, announced the closing of their public offering of US$750 million aggregate principal amount of 1.750 percent Senior Notes due 2018. The issuers said they intend to use the net proceeds from the offering for general corporate purposes, which may include a distribution to DirecTV for its share repurchase plan and other corporate purposes.
