The Drum Awards for Marketing - Extended Deadline

-d -h -min -sec

Verizon Media Charter

Verizon eyeing deal with cable firm Charter Communications

Author

By Jessica Goodfellow, Media Reporter

January 26, 2017 | 2 min read

Verizon Communications is in merger talks with cable company Charter Communications in a move that could see the telecoms giant looks further consolidate its empire, which already includes AOL and Yahoo, according to reports.

Verizon in combination talks with Charter

Verizon in combination talks with Charter

Verizon chief executive Lowell McAdam has made a “preliminary approach” to officials close to Charter, which has a market value of more than $80bn, the Wall Street Journal reports.

The telecoms firm is working with advisers to study a potential transaction, it said, though whether a deal will materialize from the talks is not yet known.

It would mean combining Verizon’s more than 114 million wireless subscribers and what remains of its landline business with Charter’s cable network, which provides TV to 17 million customers and broadband connections to 21 million.

Last year Verizon agreed a deal to buy Yahoo for $4.83bn, a transaction which is expected to close in Q2 this year. In 2015 it bought media company AOL, which owns the Huffington Post, for $4.4bn.

Verizon declined to comment on the reports.

Verizon Media Charter

More from Verizon

View all

Trending

Industry insights

View all
Add your own content +