& cplSiteName &

Charter Rebuffs Sprint, Still a SoftBank Target?

Carol Wilson

Charter Communications' stock shot up as much as 14% today, and remained 5% higher, after the cable company said it isn't interested in merging with Sprint, rejecting the complex plan put forward by SoftBank chairman Masayoshi Son. There's still speculation, though, that Son will directly purchase Charter, and that may also be impacting its stock price. (See Sprint Proposes Merger With Charter – Report.)

The Wall Street Journal originally reported Son's plans last week, saying he wanted to create a media and communications giant by acquiring Charter Communications Inc. and merging it with Sprint Corp. (NYSE: S), which SoftBank Corp. already controls.

According to a Reuters report, Charter nixed a merger with Sprint but Bloomberg said late Sunday that Son is still planning to acquire Charter.

Want to know more about building out infrastructure for 5G wireless support? Check out our dedicated 5G channel here on Light Reading.

Of course, speculation still abounds in many quarters that Sprint could still merge with T-Mobile US Inc. All of this is fueled by the fact the wireless operator continues to lose billions of dollars for its parent company, SoftBank, which acquired Sprint in 2013. (See Sprint Is Talking With Warren Buffett? and T-Mobile Adds 1.3M Subs, Stays Quiet on 'Rumorville'.)

Some connection between cable and wireless operators in the US is almost constantly being discussed, despite cable's seeming reluctance to buy its way into a market that is hotly competitive and under serious pricing pressure -- and despite the agreement that Charter and Comcast Corp. (Nasdaq: CMCSA, CMCSK) have in place at least through next May promising that neither will pursue a wireless deal independently. The Charter stock rebound, in the wake of news it wouldn't merge with Sprint, seems to show the market favors cable's view on such mergers. (See Sprint Plus Cable, Still on the Table – Report.)

— Carol Wilson, Editor-at-Large, Light Reading

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
Featured Video
From The Founder
Light Reading founder Steve Saunders recently visited the University of North Carolina Charlotte (UNCC) where Cisco's Tetration application is providing data center analytics, simplifying SDN, helping with cloud migration and overseeing white-list security policy.
Flash Poll
Upcoming Live Events
March 20-22, 2018, Denver Marriott Tech Center
March 22, 2018, Denver, Colorado | Denver Marriott Tech Center
March 28, 2018, Kansas City Convention Center
April 4, 2018, The Westin Dallas Downtown, Dallas
April 9, 2018, Las Vegas Convention Center
May 14-16, 2018, Austin Convention Center
May 14, 2018, Brazos Hall, Austin, Texas
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
AT&T Likens DoJ Suit to Shaved Persian Cat
Mari Silbey, Senior Editor, Cable/Video, 3/12/2018
Trump Blocks Broadcom's Qualcomm Acquisition
Dan Jones, Mobile Editor, 3/12/2018
John Deere Bets the Farm on AI, IoT
Scott Ferguson, Editor, Enterprise Cloud, 3/12/2018
Rumor Mill: SoftBank Still Eyeing Charter
Mari Silbey, Senior Editor, Cable/Video, 3/12/2018
Animals with Phones
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed