2011: in like lion, out like lamb: general economic woes stopped an early-year surge for sector.(YEAR IN REVIEW)

LOOKING BACK ON 2011, THE BIGGEST (and saddest) question of the year was what might have been.

Cable stocks were on track for double-digit percentage growth in the first half of the year, but a dismal second half, marred by competitive concerns and a volatile stock market, erased most of those gains as the year comes to a close. Barring a tremendous late-year surge, MSOs and programmers should finish the year relatively flat.

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But it all could have been so different. Cable stocks were on a steep upward trajectory in the first half of the year, fueled by strong performance, robust shareholder returns and optimism for the future. That was evidenced in the stocks' …