By Vanessa Francisco, | January 30, 2017
Both Verizon and Charter have not issued any statement on the possible yet. (The Conmunity - Pop Culture Geek/CC BY 2.0)
Verizon is said to be considering a deal with Charter, the company that recently bought Time Warner Cable. Talks of the takeover have led to a surge in Charter shares.
If the said deal pushes through, the resulting organization would certainly be a great telecom force with an extended reach in both wired and wireless communications. JP Morgan has predicted a telecom consolidation in the U.S. under the Trump Administration but mentioned T-Mobile as the likely party to enter a major transaction.
Like Us on Facebook
Charter is one of the biggest cable companies. With the acquisition of Time Warner Cable, it is now called Spectrum. Charter aims to make it the fastest growing Internet, TV, and voice provider through this merger.
AT&T bought DirecTV in 2015 and has since become the biggest pay-TV operator in the US with 25.3 million subscribers. The company wanted to acquire Time Warner for $85.4 billion to its boost content and establish its brand in the media and entertainment market.
If the Wall Street Journal's report is accurate, Verizon may have a deal with Charter.
"Verizon CEO Lowell McAdam has made a preliminary approach to officials close to Charter and Verizon is working with advisers to study a potential transaction," the WSJ reported. While there is no guarantee of the deal yet, the prospect has raised a lot of interest.
Charter's shares increased more than seven percent in trading this morning after news of its potential agreement with Verizon. Both Verizon and Charter have not issued any statement on the possible yet.
-
Use of Coronavirus Pandemic Drones Raises Privacy Concerns: Drones Spread Fear, Local Officials Say
-
Coronavirus Hampers The Delivery Of Lockheed Martin F-35 Stealth Fighters For 2020
-
Instagram Speeds Up Plans to Add Account Memorialization Feature Due to COVID-19 Deaths
-
NASA: Perseverance Plans to Bring 'Mars Rock' to Earth in 2031
-
600 Dead And 3,000 In The Hospital as Iranians Believed Drinking High-Concentrations of Alcohol Can Cure The Coronavirus
-
600 Dead And 3,000 In The Hospital as Iranians Believed Drinking High-Concentrations of Alcohol Can Cure The Coronavirus
-
COVID-19: Doctors, Nurses Use Virtual Reality to Learn New Skills in Treating Coronavirus Patients