While it was rumored that Charter said “no thank you” to Verizon’s estimated $100 billion merger offer earlier this year because it just wasn’t enough money, new reports suggest the rejection was actually because Charter wanted to go on its own shopping spree, snatching up Cox Communications.
The New York Post, citing sources familiar with the matter, reports that Charter is considering a play to purchase Cox Communications.
Cox, which has about 21 million customers, provides service in 18 states scattered through the US, including Massachusetts, Florida, Virginia, California, and Arizona. Charter, on the other hand, offers service to 27 million people in 28 states, including California, Missouri, and Michigan.
The sources say that Charter CEO Tom Rutledge is very interested in the Atlanta-base cable company, but that no formal approach has been made yet.
Still, Charter’s desire to acquire Cox could be all talk, as Cox has brushed off many advances from the company in the past.
DSLReports suggests that Charter has approached Cox several times since 2013 and been rejected each time.
“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,” a rep for the company tells the NY Post.
Full Content: New York Post