US: Verizon no longer interested in buying a cable company

Verizon CEO Lowell McAdam said that telecom giant Verizon is no longer exploring acquisitions of a big cable giant to help grow demand for its wireless data and content products.

But McAdam told an investors conference on Thursday, September 14, he has major content deals for his Oath subsidiary in the works. “We’ve moved on from those (cable) discussions,” McAdam told the Goldman Sachs Communacopia Conference after Verizon earlier this year explored a possible combination with cable giant Charter Communications, in which John Malone’s Liberty Media owns a big stake.

Verizon was also reportedly in deal talks with Comcast, Walt Disney and CBS but McAdam said Verizon is now looking beyond cable companies to purchase optical fiber and related hardware to build out its wireless network.

Full Content: The Street

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