Sprint seeks mega-media merger with Charter, WSJ says

Business


Sprint is seeking to merge with Charter Communications to create a media and communications behemoth, according to a report from The Wall Street Journal, citing people familiar with the situation.

Sprint is looking to offer bundle deals to customers with cellular-phone service, TV, landline and broadband internet service, the Journal said. The proposed combination of Sprint with Charter would merge the fourth-largest U.S. wireless carrier with the second-largest U.S. cable company.

Charter and Comcast had both reportedly been talking with Sprint about various deals, with an exclusivity window closing this past week. However, Sprint Chairman Masayoshi Son appears to be insisting on a splashy mega deal with Charter, the unidentified sources told the publication.

Meanhile, a separate report suggested Charter may not be interested in Sprint’s overtures, one source told Bloomberg on Friday.

A representative from Sprint didn’t immediately respond to CNBC’s request for comment. Charter declined comment when asked by CNBC on Saturday.

Son is also chairman of Japan’s SoftBank. And under Sprint’s latest proposed merger, a new publicly traded entity that combines Sprint and Charter would be controlled by the Japanese company, according to the people who spoke with the Journal.

Meantime, Sprint had also reportedly been discussing a possible merger with its rival T-Mobile. These talks could gain legs again, along with the Sprint-Charter dialogue, the Journal reported.

Notably, Sprint is set to report first-quarter earnings on Tuesday.

Read the full report from The Wall Street Journal.



Source link

Products You May Like

Articles You May Like

For tech companies like IBM, their tax rates may go up this year under the new bill
Contribute to Society, or Risk Losing Our Support
Ford shares drop on disappointing 2018 earnings forecast
IBM earnings Q4 2017
Regulators have begun work to ‘streamline’ Volcker Rule

Leave a Reply

Your email address will not be published. Required fields are marked *