Cable Bahamas Rejects Misleading, Irresponsible Headline on Tribune Business Article

NASSAU, BAHAMAS – Cable Bahamas Ltd. categorically rejects the misleading and irresponsible headline published in The Tribune Business article titled “Cable’s ‘Bankruptcy’ Fear Over Satellite Regulation.” 

There is absolutely no basis for any suggestion that Cable Bahamas is in financial distress. Our participation in URCA’s consultation on the Regulatory Framework for Satellite-Based Electronic Communications Services in The Bahamas is grounded in our responsibility to advocate for fair and future-ready policy.

At the core of our submission is a call for a level playing field—where all service providers, including foreign entrants, are held to consistent standards, obligations, and accountability when serving the Bahamian public.

Cable Bahamas remains financially strong and strategically focused.

We continue to deliver results through disciplined execution, operational efficiency, and a robust long-term strategy. Our year-to-date (YTD) Q3 FY2025 performance underscores this strength, with consolidated revenue of B$181 million and EBITDA of B$69 million.

Free cash flow increased by 140%, driven by strategic investment timing and the ongoing expansion of our fibre-to-the-home network.

Our balance sheet remains strong, with total assets of B$527 million.

Reflecting our commitment to delivering shareholder value, we increased dividend payments by 33% year-over-year and as we look ahead to Q4, we remain confident in our financial trajectory and anticipate continued momentum across key performance indicators—further reinforcing the trust placed in us by customers, investors, and partners.

The Tribune’s article headline mischaracterizes our participation in the Utilities Regulation and Competition Authority’s (URCA) consultation process, our submission to URCA raised legitimate and evidence-based concerns about the premature and unbalanced regulatory treatment of satellite operators.

Our position is clear: we support innovation and competition, but it must be fair, sustainable and beneficial to Bahamian consumers and the national economy.

URCA’s decision to issue a second round of public consultation is itself confirmation that the concerns raised by Cable Bahamas, and others in the industry, are valid and merit deeper review.

We welcome continued engagement with the regulator and trust this new phase will deliver a more balanced and inclusive framework.

We have been clear and consistent in our position that satellite services have a role to play—particularly in hard-to-reach or underserved areas—but they cannot replace robust terrestrial infrastructure. As Tarana Wireless highlights in its 2024 technical report that industry research shows that low-earth orbit (LEO) satellite systems are inherently limited in capacity—able to serve only a small percentage of residential customers—and are typically targeted at high-income households. These systems also come with significantly higher delivery costs, expensive equipment, and a short satellite lifespan, requiring ongoing replacement every few years. This makes LEO services impractical as a substitute for national broadband infrastructure and underscores the need for a thoughtful, fair regulatory framework.

These limitations reflect why regulatory frameworks around the world are being crafted carefully, and in some cases, restrictively to prevent disruption of national telecom ecosystems.

As we highlighted in our URCA response, issuing full-market licenses to unregulated, foreign LEO providers—without service obligations, fiscal contribution, or local investment—risks undermining the very infrastructure the country depends on.

As the leading communications provider in The Bahamas, we have invested over $85 million in our latest fibre network, building the fastest and most advanced fixed broadband infrastructure in the Caribbean region.

Our ongoing deployment of XGS-PON (10 Gigabit Symmetric Passive Optical Network) technology enables multi-gigabit speeds and future-ready scalability that reaches thousands of homes and businesses across New Providence with future expansion across the archipelago—this is grounded in our commitment for localized investment and improving customer service nationwide and is why as the only 100% Bahamian owned telecommunication provider, Cable Bahamas is committed to progress, to customers and to country.

We will continue to invest in technology, improve customer experience and advocate for a telecom sector that is competitive, future-focused, and rooted in

Bahamian value creation.