By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Cable Bahamas yesterday renewed its call for a competitive “level playing field” with satellite communications providers that is “fair, sustainable and balanced” for both consumers and the economy.

The BISX-listed communications provider, in a statement responding to Tribune Business’s report on the company’s own warning that it may “be forced to exit the market and/or file for bankruptcy” if regulators fail to ensure it can compete on equal terms with Elon Musk’s Starlink and others, said the decision to launch a second round of consultation on satellite regulation shows its concerns are “valid”.

The group, which also includes the Aliv mobile provider, hit out at this newspaper’s headline as “misleading and irresponsible” while accusing Tribune Business of “mischaracterising” its participation in the Utilities Regulation and Competition Authority (URCA). Tribune Business rejects such assertions and has made that clear in conversation with Cable Bahamas executives.

The article’s headline, ‘Cable’s ‘bankruptcy’ fear over satellite regulation’, accurately reported on the contents of Cable Bahamas’ submissions to URCA. It never suggested that the BISX-listed communications provider is “in financial distress” or under any immediate threat, and there appeared to be no complaints with the article’s contents.

“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,” Cable Bahamas said in its statement.

“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, asserting its financial strength, said its free cash flow has increased by 140 percent during the nine months to end-March 2025 with dividend payments to shareholders having risen by 33 percent. “Cable Bahamas remains financially strong and strategically focused. We continue to deliver results through disciplined execution, operational efficiency and a robust long-term strategy,” it said.

“Our year-to-date third quarter financial year 2025 performance underscores this strength, with consolidated revenue of $181m and EBITDA (earnings before interest, taxation, depreciation and amortisation) of $69m. Free cash flow increased by 140 percent, 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 $527m. Reflecting our commitment to delivering shareholder value, we increased dividend payments by 33 percent year-over-year and, as we look ahead to the fourth quarter, 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.”

Turning to the satellite regulation consultation directly, Cable Bahamas added: “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.” Cable Bahamas cited a 2024 report by Tarana Wireless, which argued that satellite providers are no substitute for fibre-optic broadband networks, to back its case.

“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 licences to unregulated, foreign LEO (low earth orbit) providers - without service obligations, fiscal contribution or local investment - risks undermining the very infrastructure the country depends on,” Cable Bahamas added.

“As the leading communications provider in The Bahamas, we have invested over $85m 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 localised investment and improving customer service nationwide, and is why.... 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.”