Proposed merger called off between Sprint and cable company Charter

Marc LaVoie
July 31, 2017 - 5:48 am

Charter Communications said late Sunday it has "no interest" in merging with Overland Park-based Sprint.

A merger between Sprint and cable giant Charter was reported over the weekend in The Wall Street Journal. The combined companies were to have created an entity with an estimated market value of $130 billion, to be controlled by Sprint parent SoftBank Group of Japan. 

Sprint's current market value is estimated at $30 billion. 

Charter put the brakes on rumors late Sunday by announcing it is not in the running to join forces with Sprint. Charter announced it will continue with its current wireless reseller agreement with Verizon.

Sprint has been looking for merger partners for months to help it compete with larger competitors and started looking at cable companies after a deal with T-Mobile failed to advance. 

Sprint is the fourth-largest wireless company in the United States, behind Verizon, AT&T Mobility and T-Mobile. 

Charter is the third-largest number of subscribers among cable companies in the U.S., behind Comcast and Time Warner and ahead of Cox Communications.

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