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January 18, 2017 12:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/G5jCsygXXXU/verizon-looking-to-buy-comcast-or-charter-says-report
Verizon Looking To Buy Comcast or Charter, Says Report
"Two well-placed sources" told The New York Post that Verizon is considering purchasing a big cable company to help it grow demand for its wireless data products. The source said the most likely targets would be "Charter or Comcast." New York Post reports: Verizon Chief Executive Lowell McAdam may be getting ready to answer rival ATT's moves to buy DirecTV and Time Warner. To be sure, Verizon is not in talks with any cable company and may not ever make such a move. Still, McAdam has been under pressure recently with Verizon's deal to acquire Yahoo still a question mark months after two major hacks of the internet portal were revealed. The wireless giants operate on 4G wireless networks but are preparing to become a real alternative to the cable company with phone, TV and data services. To do that more effectively, the phone companies are pouring money into 5G connections that can work with cable systems to provide more stable coverage for consumers. McAdam has already given Wall Street analysts and investors big hints that he's looking at a combination with, say, a Charter Communications. In a mid-December meeting with Wall Street analysts, McAdam said a get-together between the two "makes industrial sense." Three weeks later, at CES, his comments to friends make it clear that cable distribution is a path he is exploring, perhaps more seriously than first thought. "For regulatory reasons, Verizon can't dominate in FiOS and cable, so it appears to have to set its sights on cable," an industry source said. Charter could be a seller under the right conditions, the source added, emphasizing that Malone and Charter CEO Tom Rutledge are just getting going on their vision for Charter.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/G5jCsygXXXU/verizon-looking-to-buy-comcast-or-charter-says-report
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