Atlanta-Base Cable Company
Reports from several reliable sources had earlier stated that the telecom giant, Charter Communications® said “no thank you” to the estimated $100 billion merger offer made by Verizon® because Charter® was not pleased with the deal. However, new reports indicate that Charter® rejected Verizon’s offer because they themselves were planning to buy the telecom company instead.
Cox Communications® is the fastest internet provider in several parts of the country and they have approximately 21 million subscribers as of now. The service offered by the company reaches 18 states of the United States including Arizona, California, Virginia, Florida, and Massachusetts. On the other hand, Charter Communications®, who is also one of the leading internet providers in the country, provides services to about 27 million people in 28 states of the US including Michigan, Missouri, and California.
Reports claim that the CEO of Charter Communications® has shown great interest in the Atlanta-base cable company, but they have not yet made any formal approach to seal the deal with Cox Communications®. However, several expert analysts in the field of telecommunications claim that Charter® would be looking for a way to buy Cox Communications® soon.
Some say that Charter’s desire to buy Cox® might not happen at all because the latter has rejected several attempts from Charter Communications® in the past. Charter® has approached Cox® multiple times since 2013 but Cox® said that they were not interested in the buyout every time. Reports indicate that Cox® might not be still interested in Charter’s offer.
Leading Internet Providers
A representative from Cox Communications® recently said, “Cox® has been very clear and consistent that we are not for sale and, in fact, we’re aggressively investing in our network, products and strategic partnerships and investments of our own.” However, there will be a change of leadership in the telecom company next year and it may open the doors for Charter Communications®.
The telecom giant, Charter Communications® is no stranger to mergers, as the company had spent $10 billion for acquiring Bright House Networks® and another $55 billion on Time Warner Cable® a while ago. However, Charter® did face a few challenges after the merger. The New York Department of Public Service recently announced that the telecom company had to pay $13 million because they failed to meet the deadline of expanding their network, which was a major condition put forward by the city when Charter® acquired Time Warner Cable®.
