Charter Communications Disinterested in Sprint’s Merger Bid (Report)

Merger of the two would have created a publicly traded media and communications giant

Sprint Charter

Charter Communications is not interested in a merger with Sprint Corp., a person familiar with the matter tells Bloomberg.

Earlier this evening, The Wall Street Journal reported that Sprint chairman Masayoshi Son proposed a merger of his telecommunication company with Charter to form a publicly traded media and communications giant that would be controlled by Son’s SoftBank.

SoftBank Group didn’t immediately respond to a request for comment.

In January, Verizon was exploring a merger with Charter. At the time, The Journal reported that Verizon chief Lowell McAdam had made “preliminary” talks to “officials close to Charter” and had hired experts to study a possible merger.

Charter is the second largest cable operator, behind only Comcast, and the 2016 takeover of Time Warner Cable gave the company a significant presence in major markets, now valued at over $80 billion, according to the Journal.