Verizon gives up, won't buy Charter Spectrum

Verizon gives up, won't buy Charter Spectrum
Region's dominate cell phone carrier has given up on buying Charter/Spectrum

Ever since an openly business-friendly administration stepped into the White House, analysts and investors have been pushing for Verizon to merge with a cable/internet giant like Charter.

And the telecom titan’s CEO has even indicated his interest in a corporate marriage of convenience with a massive cable or media company.

But now the company says it has no immediate plans to wed.

Verizon has “moved on” from trying to acquire or be acquired by one of the big cable companies, CEO Lowell McAdam told a crowd of investors and money-men at a confernece this week, the Consumerist notes by using information from Bloomberg News.

Despite already being the largest wireless carrier in the U.S., and having a massive, sprawling, critical copper and fiber network over giant swaths of the country, Verizon has been desperately flinging itself at cable suitors all year long.

In April, McAdam made it clear that he wanted to talk merger, and he wasn’t picky, saying that he’d be happy to discuss terms with Comcast, Charter, or even a media-side company like Disney.

Read more at the Consumerist >