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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Charter Communications Inc New | NASDAQ:CHTR | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.91 | -0.28% | 323.68 | 323.48 | 323.70 | 328.41 | 319.27 | 324.59 | 706,876 | 18:27:34 |
By Shalini Ramachandran, Ryan Knutson and Dana Mattioli
Verizon Communications Inc. is exploring a combination with Charter Communications Inc. that would unite two giants in search of growth in a rapidly consolidating media and telecom landscape, according to people familiar with the matter.
Verizon CEO Lowell McAdam has made a preliminary approach to officials close to Charter and Verizon is working with advisers to study a potential transaction, the people said, though there's no guarantee a deal will materialize.
It is unclear whether Charter executives, including Chief Executive Tom Rutledge, would be open to a transaction. The effort could be complicated by Charter's ownership structure, which includes cable tycoon John Malone and the Newhouse family.
A combination would bring together Verizon's more than 114 million wireless subscribers and what remains of its landline business with Charter's cable network, which provides television to 17 million customers and broadband connections to 21 million.
Verizon has a market capitalization of $194 billion and more than $100 billion in debt, while Charter ended Wednesday's session valued at about $85 billion.
Write to Shalini Ramachandran at shalini.ramachandran@wsj.com, Ryan Knutson at ryan.knutson@wsj.com and Dana Mattioli at dana.mattioli@wsj.com
(END) Dow Jones Newswires
January 26, 2017 09:32 ET (14:32 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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