Charter hoovered up $3B in broadband subsidies, WSJ reports

The federal government has spent $12.82B in the last two years helping low-income households pay for internet service. Almost a quarter of it has gone to one company, The Wall Street Journal’s Ryan Tracy and Patience Haggin report. Charter Communications (CHTR) received $3.01B through the Affordable Connectivity Program, or ACP, according to a Wall Street Journal analysis of federal spending data, a larger slice than any of its competitors. Charter’s use of the program has come to the attention of regulators, who are examining some of its practices, people familiar with the matter said. The cable giant’s total is nearly three times the $1.05B paid to the next-largest recipient, T-Mobile (TMUS), and more than four times the payments to Comcast (CMCSA), a peer with similar subscriber numbers, the authors note.