Time Warner Cable 2014 Annual Report Download - page 3

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I begin my second letter to you as Chairman and CEO of Time Warner Cable in
the same way I ended my irst—with a renewed commitment to the two primary
objectives that have guided my leadership of this company over the past
17 months: maximizing shareholder value and delivering great customer
experiences. Thanks to 55,000 dedicated and resilient employees, I am pleased
to report, the company today is far stronger than at the beginning of 2014. We
have great operating momentum and are extremely well positioned for the future.
Relecting on 2014
We began 2014 with our historic agreement to merge with Comcast Corporation.
The transaction recognized Time Warner Cable’s unique value and, we believe,
would have accelerated our business goals, stimulated innovation and beneited
our customers and shareholders. Ultimately, it became clear the proposed merger
could not gain regulatory approval, and, on April 24, 2015, we mutually agreed with
Comcast to terminate our merger agreement.
Throughout the year, even while we engaged in integration planning and sought
regulatory approvals, we remained steadfastly committed to executing on our
operating plan so that we would be positioned well for life as a stand-alone
company in the event the merger could not be consummated. I am extremely
proud of the way the TWC team performed during what was, without question,
a luid and challenging environment.
In last year’s letter, I promised that during 2014 we would revitalize our
residential services business by improving the reliability of our network
and enhancing customer service, dierentiating our products in ways that
matter to our customers, reinventing the Time Warner Cable experience by
launching “TWC Maxx,” and growing our subscriber base through better
customer acquisition and retention. I committed to growing business services
toward our goal of $5 billion in annual revenue by 2018. And I said we would
capitalize on the mid-term elections to generate record revenue in our
advertising business.
I am pleased to say that our team delivered on all counts. In fact, the team
surpassed my loftiest expectations. We ended 2014 ahead of plan in almost
every operational category.
Robert D. Marcus
Chairman & CEO
Dear Shareholders: