Verizon has continued an apparent aggressive expansion agenda as it was recently reported that the company seeks to acquire Charter Communications. It seems Verizon is seeking to keep pace with its major rival, AT&T, who recently bought out DirecTV and also purchased Time Warner Cable, as well as Brighthouse Cable. The company has re-branded itself “Spectrum” and is becoming one of the largest cable and internet provider companies in the world. The deal looks to be some manner of “combination” according to Verizon. The news seemed well received on Wall Street as Charter Communications stock leaped 9% on the news.
If this should go through, the radical consolidation of the telecommunications industry should continue under a merger friendly President Trump regime. While the deal is by no means a done deal, it has been reported by The Wall Street Journal, and others, that Verizon CEO Lowell McAdam has already begun to open talks with Charter Communications.
It is early in the matter so neither company has made any public statement regarding the matter. It isn’t clear whether Charter will even be interested in Verizon’s overtures as itself has been a mover and shaker with regard to acquisitions of late. Charter currently has around 17 million pay TV subscribers and a market value of about $85 billion. Verizon has a market capitalization of around $195 billion as of the close of the markets yesterday.
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