Tags: comcast | charter | partnership | wireless

Comcast, Charter Partnership to Compete in Wireless Market

Image: Comcast, Charter Partnership to Compete in Wireless Market

(Comcast; Charter)

By    |   Monday, 08 May 2017 12:25 PM

Comcast and Charter Communications announced a partnership Monday in an effort to compete more effectively in the wireless marketplace.

The Comcast-Charter partnership comes after Comcast said in April that it was booting up its new Xfinity Mobile cell phone service, MarketWatch reported.

Telecom analyst Craig Moffett said, according to Philly.com, that the agreement amounted to a so-called "no-adultery clause," meaning that Comcast and Charter would have to approve their respective plans to either buy a wireless company or be acquired by a wireless company — tipping each other off on their plans.

"The announcement pours cold water on all the various (merger and acquisition) scenarios about which people have so incessantly speculated," Moffett, of MoffettNathanson, said in a research note.

Rumors had swirled at one that Comcast was planning to buy Sprint or T-Mobile, and Verizon Communications would purchase either Comcast or Charter, Philly.com said.

The website said that Comcast and Charter stocks were inactive in premarket trade, but shares of Comcast have increased 13 percent in the year to date, while Charter's have increased more than 16 percent, MarketWatch noted.

"The companies, which have each separately activated a mobile virtual network operator (MVNO) reseller agreement with Verizon Wireless, have agreed to explore working together in a number of potential operational areas in the wireless space …," a joint statement on Charter's website said.

Charter said both will work together in such areas as creating common operating platforms; technical standards development and harmonization; device forward and reverse logistics; and emerging wireless technology platforms, according to the statement.

"We're looking forward to launching Xfinity Mobile to our customers in the coming weeks and are excited about this opportunity to work with Charter to explore ways we can make our respective wireless initiatives more efficient and cost effective," Comcast chairman and chief executive Brian L. Roberts said in a joint statement with Charter.

"Both of our companies have regional wireless businesses using the same 4G LTE network, and by working together our goal is to create even better experiences for our customers," Roberts added.

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Comcast and Charter Communications announced a partnership Monday in an effort to compete more effectively in the wireless marketplace.
comcast, charter, partnership, wireless
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2017-25-08
Monday, 08 May 2017 12:25 PM
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