Jeffrey Wlodarczak

Jeffrey Wlodarczak asked if the new Concorde Agreement would be similar to the current one and inquired about any surprises in the development of the 2026 powertrains.

Answer

Formula One CEO Stefano Domenicali indicated that the fundamental structure of the new Concorde Agreement will be "quite similar" to the current one. Regarding the 2026 regulations, he acknowledged the normal expectations and discussions that arise with any major rule change, highlighting that the focus on sustainable fuel is a key technological development for the future. He stressed the importance of balancing technology with keeping the driver at the center of the sport to appeal to both traditional and new fans.

Jeffrey Wlodarczak of Pivotal Research Group asked if the next Concorde Agreement would be similar to the current one and inquired about any major surprises in the development of the 2026 powertrains.

Answer

Formula One CEO Stefano Domenicali indicated that the basic fundamentals of the new Concorde Agreement are "quite similar" to the current structure. Regarding the 2026 regulations, he acknowledged the normal cycle of expectations and concerns that come with major changes but emphasized that the shift to sustainable fuels will provide a future boost. He stressed the importance of keeping the driver at the center of the sport and balancing the interests of traditional and new fans.

Inquired about Charter's strategy regarding its footprint expansion versus share repurchases and its ability to mitigate subscriber and ARPU impact from the end of the ACP program.

Answer

The executive responded that Charter is taking a more thoughtful, balanced approach to footprint expansion given market desires for free cash flow. Regarding ACP, he stated that Charter has attractive programs to mitigate subscriber loss and does not anticipate significant declines in average revenue per customer.

Jeffrey Wlodarczak inquired about the possibility of Charter slowing its network footprint expansion to allocate more capital to share repurchases, given its low valuation. He also asked about the expected success of Charter's tools in retaining ACP subscribers without a significant ARPU decline.

Answer

Gregory Maffei, President and CEO, responded that Charter is taking a 'thoughtful, balanced approach' to footprint expansion, considering the market's desire for free cash flow. Regarding ACP, he stated that the company's retention programs are attractive and that he does not anticipate significant declines in average revenue per customer.