Verizon CEO: Cable bundles will fade away

Summary:Verizon CEO Ivan Seidenberg told a conference that future generations of consumers just won't have any interest in buying cable bundles.

Peter Kafka from the blog All Things Digital reported that Verizon CEO Ivan Seidenberg told attendees of the Goldman media conference in New York that future generations of consumers just won't have any interest in buying cable bundles, the multiple services, such as Internet and cable TV access, as well as telephone lines.

"Young people are pretty smart. They're not going to pay for something they don't need to," he said. "Over the top is going to be a pretty big issue for cable."

Seidenberg cautioned, however, that bundling won't go away immediately. But a Time Warner exec said at the same conference that the company expects to see a subscriber decline in the third quarter, although the reason for that fall off was being blamed on the down economy. Wall Street isn't having it. Last week, Credit Suisse, a large financial services company downgraded media stocks and upgraded Netflix, saying it's studies show that younger people were now turning to Netflix to acquire film and TV shows.

For more on this story, read Verizon CEO: Cord cutting is real on CNET News.

Topics: Telcos, CXO, Hardware, Mobility, Networking, Verizon

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