Filed under: Google (GOOG), Comcast Cl’A’ (CMCSA), Time Warner Cable (TWC), Technology

It’s been a while since we’ve seen sharp gains on shares of cable companies. UBS is holding its Global Media Week and Communications Conference today in New York. Earlier today, Time Warner Cable (NYSE: TWC) surprised the markets today during a CNBC video interview when CEO Glenn Britt said that Time Warner wouldn’t be in the bidding for more wireless spectrum in the FCC auction. The company had been a bidder before.

Comcast Inc. (NASDAQ: CMCSA) is also opting out of a wireless spectrum bidding. The truth is that both cable companies already have access to spectrum if needed, and there is still more spectrum available on existing infrastructure that can be used if needed.

One interesting development was when Glenn Britt described the demand for a cable company to need wireless as a quadruple play against the telecoms, who now offer video solutions that compete against cable. The old triple- play is still very under-penetrated on a nationwide basis.

Maybe it pays to be patient rather than spending a few hundred million here and a couple billion there. Sooner or later it adds up to real money. Google (NASDAQ: GOOG) has said it would be participating in the spectrum auction in January for the new, more powerful 700-MHz spectrum. If the Googlesaurs want to be rewarded similarly, maybe they’d determine it is cheaper and easier to partner for spectrum openly rather than the spend-spend-spend model.

Time Warner Cable shares are up nearly 4% to $27.05 today, and Comcast shares are up some 2.5% at $21.05. Google shares are down almost 1% at $687.15.

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This entry was posted on Tuesday, December 4th, 2007 at 9:18 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.