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 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.
Verizon declined to comment on the reports.