Liberty Latin America Ltd.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
LILA$8.910.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-07.
0001712184-25-000137
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-11-05.
0001712184-25-000179
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 248 previous paragraphs and 256 current paragraphs.
157 unchanged; 84 reworded; 14 added; 6 removed; 1 previous and 1 current paragraphs rearranged.
Tables are not compared: 57 previous and 57 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (14)
Current report
Hurricane Melissa
Current report
In October 2025, Hurricane Melissa primarily impacted our Jamaican operations, and to a much lesser extent certain other operations within Liberty Caribbean, resulting in varying degrees of damage to homes, businesses and infrastructures in these markets. In connection with Hurricane Melissa, we anticipate adverse impacts to revenue and RGUs, Adjusted OIBDA, long-lived asset impairments and property and equipment additions for the remainder of 2025. We are currently unable to estimate how much Hurricane Melissa will impact these measures for the rest of 2025 or for 2026 periods. The impacts will be based on certain factors, such as when power is fully restored to the impacted areas.
Current report
Hurricane Melissa triggered the Weather Derivatives and we expect to receive net third-party proceeds during the fourth quarter of 2025. We are still in the process of assessing the impact of Hurricane Melissa on our homes passed and subscriber counts.
Current report
On September 11, 2025, SUTEL, the Costa Rican telecommunications regulator, issued a resolution prohibiting the transaction, determining that the potential negative effects could not be mitigated by the commitments proposed by the parties, nor by any additional conditions that SUTEL could establish. This outcome was unexpected, as the parties had worked closely with SUTEL’s staff throughout the review process to design remedies that they strongly believe addressed any potential competition concerns identified by the regulator. On October 22, 2025, the parties filed an appeal seeking to overturn SUTEL’s decision and requesting a new assessment of the proposed remedies. A response from SUTEL is expected by mid-November 2025.
Current report
(c)The decrease for the nine-month comparison is mainly due to lower interconnect revenue attributable to lower traffic on our networks.
Current report
(c)The increase is primarily attributable to higher volumes of CPE sales.
Current report
•Interconnect: The decreases are primarily due to lower volumes of traffic.
Current report
•Project-related and other: The increase for the three-month comparison is primarily related to government projects, whereas the decrease for the nine-month comparison reflects a lower level of government-related projects activity.
Current report
•Project-related and other: The organic increases are primarily due to growth in managed services costs and higher licensing fees.
Current report
•Equipment: The organic increases are primarily attributable to (i) higher handset unit costs and (ii) for the nine-month comparison, a higher volume of handset sales.
Current report
•Network-related:For the three-month comparison, the decrease is primarily due to lower maintenance costs and for the nine-month comparison the decrease is primarily due to lower power-related utility costs.
Current report
•Commercial: The increases are primarily due to higher commissions expense, in large part due to a shift from internal to external resources.
Current report
•Service-related: The organic increases are primarily due to higher outsourcing and software migration expenses.
Current report
For the nine months ended September 30, 2025, the income tax benefit attributable to our loss before income taxes differs from the amounts computed using the statutory tax rate, primarily due to the beneficial effects of jurisdictional rate differences, changes in uncertain tax positions, net favorable return-to-provision adjustments, and permanent differences, such as non-taxable income. These beneficial effects were partially offset by the detrimental effects of net increases in valuation allowances, the inclusion of withholding taxes on cross-border payments, permanent differences such as non-deductible expenses, and our estimate of global minimum tax.
Removed paragraphs (6)
Previous report
(c)The decreases are mainly due to lower interconnect revenue attributable to the expansion of certain competitors in our markets.
Previous report
(f)The decreases are primarily driven by the net impact of (i) declines in the rate of funding beginning in June 2024 related to funds from the FCC that we use to expand and improve our fixed and mobile networks and (ii) a grant from the NTIA to fund network infrastructure to remote and underserved communities.
Previous report
•Project-related and other: The decreases are primarily due to lower government-related projects.
Previous report
•Equipment: The organic increases are primarily attributable to higher unit costs and volumes of handset sales to residential customers.
Previous report
•Network-related: The decreases are mainly driven by lower power costs.
Previous report
•Network-related: For the six month comparison, the organic increase is primarily related to higher repair and maintenance costs.
Reworded paragraphs (84)
Previous wording
•Material Changes in Results of Operations. This section provides an analysis of our results of operations for the three and six months ended June 30, 2025 and 2024.
Current wording
•Material Changes in Results of Operations. This section provides an analysis of our results of operations for the three and nine months ended September 30, 2025 and 2024.
Previous wording
Certain statements in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. To the extent that statements in this Quarterly Report on Form 10-Q are not recitations of historical fact, such statements constitute forward-looking statements, which, by definition, involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In particular, statements under Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, Item 3. Quantitative and Qualitative Disclosures About Market Riskand Item 4. Controls and Procedures may contain forward-looking statements, including statements regarding: our business, products, foreign currency and finance strategies; our property and equipment additions; grants or renewals of licenses; subscriber growth and retention rates; changes in competitive, regulatory and economic factors; changes to international trade and tariff policies and related impacts; the recovery by our Puerto Rico operations; the transaction with Millicom to combine our respective Costa Rica operations; changes in our revenue, costs, or growth rates; debt levels; our liquidity and our ability to access the liquidity of our subsidiaries; interest rate risks; credit risks; internal control over financial reporting and remediation of material weaknesses; foreign currency risks; compliance with debt, financial and other covenants; our future projected sources and uses of cash; and other information and statements that are not historical fact. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. In addition to the risk factors described in Part I, Item 1A in our 2024 Form 10-K, the following are some but not all of the factors that could cause actual results or events to differ materially from anticipated results or events:
Current wording
Certain statements in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. To the extent that statements in this Quarterly Report on Form 10-Q are not recitations of historical fact, such statements constitute forward-looking statements, which, by definition, involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. In particular, statements under Part I, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations, Item 3. Quantitative and Qualitative Disclosures About Market Riskand Item 4. Controls and Procedures may contain forward-looking statements, including statements regarding: our business, products, foreign currency and finance strategies; our property and equipment additions; grants or renewals of licenses; subscriber growth and retention rates; changes in competitive, regulatory and economic factors; changes to international trade and tariff policies and related impacts; the recovery by our Puerto Rico operations; the transaction with Millicom to combine our respective Costa Rica operations; changes in our revenue, costs, or growth rates; debt levels; our liquidity and our ability to access the liquidity of our subsidiaries; interest rate risks; credit risks; internal control over financial reporting and remediation of material weaknesses; foreign currency risks; compliance with debt, financial and other covenants; our future projected sources and uses of cash; the impact of Hurricane Melissa on our business and operations; and other information and statements that are not historical fact. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. In addition to the risk factors described in Part I, Item 1A in our 2024 Form 10-K, the following are some but not all of the factors that could cause actual results or events to differ materially from anticipated results or events:
Previous wording
(ii)over 20 countries across Latin America and the Caribbean through two of our reportable segments, Liberty Caribbean and C&W Panama;
Current wording
i. over 20 countries across Latin America and the Caribbean through two of our reportable segments, Liberty Caribbean and C&W Panama;
Previous wording
(iii)Puerto Rico and USVI, through our reportable segment Liberty Puerto Rico; and
Current wording
ii. Puerto Rico and USVI, through our reportable segment Liberty Puerto Rico; and
Previous wording
(iv)Costa Rica, through our reportable segment Liberty Costa Rica.
Current wording
iii. Costa Rica, through our reportable segment Liberty Costa Rica.
Previous wording
At June 30, 2025, we (i) owned and operated fixed networks that passed 4,795,900 homes and served 3,979,400 RGUs, comprising 1,807,300 broadband internet subscribers, 1,253,900 fixed-line telephony subscribers and 918,200 video subscribers and (ii) served 6,643,600 mobile subscribers.
Current wording
At September 30, 2025, we (i) owned and operated fixed networks that passed 4,812,600 homes and served 3,978,800 RGUs, comprising 1,807,900 broadband internet subscribers, 1,255,100 fixed-line telephony subscribers and 915,800 video subscribers and (ii) served 6,682,700 mobile subscribers.
Previous wording
On August 1, 2024, we announced that we entered into an agreement with Millicom to combine our respective operations in Costa Rica. Under the terms of the all-stock agreement, Liberty Latin America and our minority partner in Costa Rica will hold an approximate 86% interest and Millicom will hold an approximate 14% interest in the joint operations, with final ownership percentages to be confirmed at closing. The transaction is subject to customary closing conditions, including regulatory authorizations, and we expect the transaction to be completed during the first quarter of 2026.
Current wording
On August 1, 2024, we announced that we entered into an agreement with Millicom to combine our respective operations in Costa Rica. Under the terms of the all-stock agreement, Liberty Latin America and our minority partner in Costa Rica will hold an approximate 86% interest, and Millicom will hold an approximate 14% interest in the joint operations, with final ownership percentages to be confirmed at closing. The transaction is subject to customary closing conditions, including regulatory authorizations.
Previous wording
During August 2024, we also entered into an agreement with the noncontrolling interest owner of Liberty Costa Rica where we agreed to acquire on January 30, 2026 shares representing 8.5% of the equity of Liberty Costa Rica for aggregate cash consideration of approximately $83 million, comprising CRC 22 billion ($43 million) and $40 million, with 62.5% of the purchase price due upon closing and the remaining 37.5% due on January 29, 2027.
Current wording
During August 2024, we also entered into an agreement with the noncontrolling interest owner of Liberty Costa Rica where we agreed to acquire on January 30, 2026 shares representing 8.5% of the equity of Liberty Costa Rica for aggregate cash consideration of approximately $84 million, comprising CRC 22 billion ($44 million) and $40 million, with 62.5% of the purchase price due upon closing and the remaining 37.5% due on January 29, 2027.
Previous wording
During November 2023, we entered into an agreement with EchoStar to acquire EchoStar’s prepaid business and spectrum assets in Puerto Rico and USVI in exchange for cash and international roaming credits. The aggregate cash consideration of $256 million will be paid in four annual installments. We paid $95 million on the closing date, September 3, 2024, and $72 million, $45 million and $40 million will become due on September 3 of 2025, 2026 and 2027, respectively.
Current wording
During November 2023, we entered into an agreement with EchoStar to acquire EchoStar’s prepaid business and spectrum assets in Puerto Rico and USVI in exchange for cash and international roaming credits. The aggregate cash consideration of $256 million is due in four annual installments. We paid $95 million on the closing date, September 3, 2024, $72 million is currently due, and $45 million and $40 million will become due on September 3 of 2026 and 2027, respectively.
Previous wording
The comparability of our operating results during the three and six months ended June 30, 2025 and 2024 is affected by an acquisition and FX. As we use the term, “organic” changes exclude FX and the impact of an acquisition.
Current wording
The comparability of our operating results during the three and nine months ended September 30, 2025 and 2024 is affected by an acquisition and FX. As we use the term, “organic” changes exclude FX and the impact of an acquisition.
Previous wording
The following tables set forth the organic and non-organic changes in the components of operating income or loss during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024.
Current wording
The following tables set forth the organic and non-organic changes in the components of operating income or loss during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024.
Previous wording
As reflected in the tables above, we reported operating losses for the three and six months ended June 30, 2025, as compared to operating income for the corresponding periods in 2024. For further discussion and analysis of organic changes in revenue and operating costs and expenses, see Revenue, Programming and Other Direct Costs of Services, and Other Operating Costs sections below. For further discussion and analysis of changes in Depreciation and amortization, and Impairment, Restructuring and other operating items, net, see Results of Operations (below Adjusted OIBDA)sections below.
Current wording
As reflected in the tables above, we reported operating income (loss) for the three months ended September 30, 2025 and 2024, respectively. We reported operating losses for the nine months ended September 30, 2025 and 2024. For further discussion and analysis of organic changes in revenue and operating costs and expenses, see Revenue, Programming and Other Direct Costs of Services, and Other Operating Costs sections below. For further discussion and analysis of changes in Depreciation and amortization, and Impairment, Restructuring and other operating items, net, see Results of Operations (below Adjusted OIBDA)sections below.
Previous wording
A reconciliation of total operating income, the nearest U.S. GAAP measure, to Adjusted OIBDA on a consolidated basis, is presented below.
Current wording
A reconciliation of total operating income (loss), the nearest U.S. GAAP measure, to Adjusted OIBDA on a consolidated basis, is presented below.
Previous wording
The following tables set forth the organic and non-organic changes in Adjusted OIBDA during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024:
Current wording
The following tables set forth the organic and non-organic changes in Adjusted OIBDA during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024:
Previous wording
Adjusted OIBDA Margin is impacted by organic changes in revenue, programming and other direct costs of services and other operating costs and expenses. We incurred aggregate integration costs during the three and six months ended June 30, 2024 of $3 million and $17 million, respectively, within our Liberty Puerto Rico segment.
Current wording
Adjusted OIBDA Margin is impacted by organic changes in revenue, programming and other direct costs of services and other operating costs and expenses. We incurred aggregate integration costs during the three and nine months ended September 30, 2024 of $1 million and $17 million, respectively, within our Liberty Puerto Rico segment.
Previous wording
The following tables set forth the organic and non-organic changes in revenue by reportable segment during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024.
Current wording
The following tables set forth the organic and non-organic changes in revenue by reportable segment during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024.
Previous wording
The details of the changes in Liberty Caribbean’s revenue during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Current wording
The details of the changes in Liberty Caribbean’s revenue during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Previous wording
(a)The decreases are due to lower average video, fixed-line telephony and broadband internet RGUs.
Current wording
(a)The decreases are due to lower average video and fixed-line telephony RGUs.
Previous wording
(b)The increases are primarily due to higher ARPU from broadband internet services, mainly due to price increases in certain markets.
Current wording
(b)The increases are primarily due to higher ARPU on broadband internet services due to the impact of Hurricane Beryl-related credits in the prior year and price increases in certain markets.
Previous wording
(d)The increases are primarily attributable to the net effect of (i) an increase in prepaid mobile ARPU mainly resulting from price increases in Jamaica during the first quarter of 2024 and 2025, (ii) higher average numbers of postpaid mobile subscribers, mostly due to growth from fixed-mobile convergence efforts, and (iii) lower average number of prepaid mobile subscribers due in part to fixed-mobile convergence efforts and churn associated with price increases.
Current wording
(d)The increase for the nine-month comparison is primarily attributable to the net effect of (i) an increase in prepaid mobile ARPU mainly resulting from price increases in Jamaica during the first quarter of 2024 and 2025, (ii) higher average numbers of postpaid mobile subscribers, mostly due to growth from fixed-mobile convergence efforts, and (iii) lower average number of prepaid mobile subscribers due in part to fixed-mobile convergence efforts and churn associated with price increases.
Previous wording
(f)The decreases are mainly attributable to the net impact of (i) lower project-related revenue, primarily in our Bahamas and Cayman Islands markets, and (ii) increases in revenue from mobile services due to strong performance in some of our markets.
Current wording
(f)The increase for the three-month comparison is mainly due to (i) higher project-related revenue in some of our markets and (ii) increase in revenue from managed services, mostly related to growth in broadband internet that was partially offset by a decline in fixed-line telephony. The decrease for the nine-month comparison is mainly attributable to the net impact of (i) lower project-related revenue, primarily in our Bahamas and Cayman Islands markets, (ii) increase in revenue from managed services, mostly related to growth in broadband internet that was partially offset by a decline in fixed-line telephony, and (iii) increase in revenue from mobile services due to strong performance in some of our markets.
Previous wording
The details of the changes in C&W Panama’s revenue during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024, are set forth below::
Current wording
The details of the changes in C&W Panama’s revenue during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Previous wording
(a)The increases are primarily due to the net effect of higher average broadband internet RGUs.
Current wording
(a)The increases are primarily due to the effect of higher average broadband internet RGUs.
Previous wording
(c)The increases are primarily due to the net effect of (i) higher average postpaid and prepaid mobile subscribers, driven in part by the addition of customers to our base following the exit of a competitor from our market during the first quarter of 2024, and (ii) for the six-month comparison, an increase in prepaid mobile ARPU resulting from higher ARPU packages offered to customers. During the three-month comparison, ARPU was negatively impacted by nation-wide protests.
Current wording
(c)The increases are primarily due to higher average postpaid and prepaid mobile subscribers, driven in part by the addition of customers to our base following the exit of a competitor from our market during the first quarter of 2024.
Previous wording
(e)The decreases are primarily attributable to lower project-related revenue, including delays in certain 2025 projects.
Current wording
(e)The increase for the three-month comparison is mainly due to higher revenue from government-related projects. The decrease in the nine-month comparison is primarily attributable to lower project-related revenue, including delays in certain 2025 projects. Additionally, the three and nine-month comparisons were negatively impacted by lower revenue from fixed and managed services, primarily related to lower out-of-plan usage on fixed B2B voice customers.
Previous wording
The details of the changes in Liberty Networks’ revenue during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Current wording
The details of the changes in Liberty Networks’ revenue during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Previous wording
(a)The changes are primarily attributable to the net effect of (i) lower revenue associated with sales-type leases on CPE, (ii) growth in managed services and (iii) higher B2B connectivity revenue.
Current wording
(a)The increases are primarily attributable to the net effect of (i) growth in managed services, (ii) higher B2B connectivity revenue and (iii) for the nine-month comparison, lower revenue associated with sales-type leases on CPE.
Previous wording
(b)The decreases are primarily due to the net effect of (i) lower revenue associated with the recognition of deferred revenue and penalties upon the termination of a prepaid capacity contract during the second quarter of 2024, (ii) higher lease capacity and inter-segment revenue, (iii) lower amortized prepaid capacity and operating and maintenance revenue driven by the cancellation of prepaid capacity contracts in prior periods and (iv) an increase in nonrecurring revenue, driven mostly by equipment and capacity restoration projects.
Current wording
(b)The increases are primarily due to the net effect of (i) higher sub-sea capacity revenue, (ii) for the nine-month comparison, lower revenue associated with the recognition of deferred revenue and penalties upon the termination of a prepaid capacity contract during the second quarter of 2024, (iii) an increase in equipment sales, and (iv) lower revenue from prepaid capacity arrangements driven by the cancellation of prepaid capacity contracts in prior periods.
Previous wording
The details of the changes in Liberty Puerto Rico’s revenue during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Current wording
The details of the changes in Liberty Puerto Rico’s revenue during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Previous wording
(a)The decreases are primarily attributable to lower average broadband internet RGUs, driven in part by the termination of a government-sponsored program during the second quarter of 2024, and to a lessor extent, lower average video RGUs.
Current wording
(a)The decreases are primarily attributable to lower average broadband internet and video RGUs. The nine-month comparison is negatively impacted in part by the termination of a government-sponsored program during the second quarter of 2024.
Previous wording
(b)The increases are primarily due to higher ARPU from broadband internet and video services, mainly due to price increases.
Current wording
(b)The increases are primarily due to higher ARPU from broadband internet and video services, mainly due to price increases. The increases also include the impact of credits issued to customers prior year following Hurricane Ernesto, which impacted Puerto Rico in August 2024.
Previous wording
(c)The decreases are primarily due to the negative impacts from the migration of customers to our mobile network and network challenges in 2024, which caused a decline in the average number of postpaid mobile subscribers and, for the six-month comparison, lower postpaid mobile ARPU.
Current wording
(c)The decreases are primarily due to the negative impacts from the migration of customers to our mobile network and network challenges in 2024, which caused a decline in the average number of postpaid mobile subscribers and lower postpaid mobile ARPU.
Previous wording
(d)The increases are primarily driven by (i) equipment sales and (ii) inbound roaming revenue.
Current wording
(d)The increases are primarily driven by higher equipment sales and inbound roaming revenue.
Previous wording
(e)The decreases are primarily attributable to lower revenue from mobile services due mostly to (i) the negative impacts from the migration of customers to our mobile network in 2024, which caused declines in the average number of mobile subscribers and lower mobile ARPU, and (ii) for the six-month comparison, the termination of a government-sponsored program at the start of the second quarter of 2024.
Current wording
(e)The decreases are primarily attributable to lower revenue from mobile services due mostly to (i) the negative impacts from the migration of customers to our mobile network in 2024, which caused declines in the average number of mobile subscribers and lower mobile ARPU, and (ii) for the nine-month comparison, the termination of a government-sponsored program at the start of the second quarter of 2024.
Previous wording
The details of the changes in Liberty Costa Rica’s revenue during the three and six months ended June 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Current wording
The details of the changes in Liberty Costa Rica’s revenue during the three and nine months ended September 30, 2025, as compared to the corresponding periods in 2024, are set forth below:
Previous wording
(a)The increases are primarily due to higher average broadband internet and video RGUs.
Current wording
(a)The increases are primarily driven by higher average broadband internet and video RGUs.
Previous wording
(b)The decreases are primarily attributable to lower ARPU from video services and, to a lesser extent, lower broadband internet.
Current wording
(b)The decreases are primarily attributable to lower ARPU from video services and, to a lesser extent, from broadband internet and fixed-line telephony services.
Previous wording
(c)The increases are primarily due to the net effect of (i) higher average postpaid mobile subscribers and (ii) lower prepaid and postpaid mobile ARPU.
Current wording
(d)The increases are primarily due to the net effect of (i) higher average postpaid mobile subscribers and (ii) lower prepaid and postpaid mobile ARPU.
Previous wording
(d)The increases are primarily attributable to the net effect of (i) higher equipment sales, mainly driven by higher volumes, and (ii) a decrease in interconnect revenue, driven by lower local traffic.
Current wording
(e)The increases are primarily attributable to the net effect of (i) higher equipment sales, mainly driven by higher volumes, and (ii) decreases in interconnect revenue, driven by lower local traffic.
Previous wording
•Programming and copyright: The organic decreases are mainly due to (i) lower video subscribers and (ii) the lower rates resulting from the renegotiation of certain content agreements.
Current wording
•Programming and copyright: The organic decreases are mainly due to the net effect of (i) lower video subscribers, (ii) an increase associated with a copyright claim, and (iii) lower rates resulting from the renegotiation of certain content agreements.
Showing the first 40 of 84 pairs. Open the source sections for the rest.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
•Facility, provision, franchise and other: The increases are primarily due to higher bad debt expense.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
(a)Represents the amount held by Liberty Latin America on a standalone basis.