Comcast and Charter to Explore Operational Efficiencies to Speed Entry into the Wireless Market
May 08 2017 - 6:30AM
Business Wire
Comcast and Charter, both regional cable operators, today
announced an agreement to explore potential opportunities for
operational cooperation in their respective wireless businesses to
accelerate and enhance each company’s ability to participate in the
national wireless marketplace. 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, including: creating common operating platforms;
technical standards development and harmonization; device forward
and reverse logistics; and emerging wireless technology platforms.
The efficiencies created are expected to provide more choice,
innovative products and competitive prices for customers in each of
their respective footprints. Additionally, the companies have
agreed to work only together with respect to national mobile
network operators, through potential commercial arrangements,
including MVNOs and other material transactions in the wireless
industry, for a period of one year.
Tom Rutledge, Chairman and CEO of Charter, said, “At Charter, we
have a tremendous opportunity in front of us in the wireless space.
Within our footprint, our network is perfectly suited to provide
the data-rich wireless services that customers are increasingly
demanding. By working with the team at Comcast, we can not only
speed Charter’s entry into the marketplace, it will also enable us
to provide more competition and drive costs down for consumers at a
similar national scale as current wireless operators. We look
forward to working with Comcast through this innovative arrangement
and bringing our focus on superior products and services,
craftsmanship and quality customer care to the wireless space.”
“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,”
said Brian L. Roberts, Chairman and CEO of Comcast Corporation.
“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.”
The companies will file an 8-K with the U.S. Securities and
Exchange Commission that contains their agreement.
About Comcast
Comcast Corporation (Nasdaq: CMCSA) is a global media and
technology company with two primary businesses, Comcast Cable and
NBCUniversal. Comcast Cable is one of the nation’s largest video,
high-speed internet, and phone providers to residential customers
under the XFINITY brand, and also provides these services to
businesses. It also provides wireless and security and automation
services to residential customers under the XFINITY brand.
NBCUniversal operates news, entertainment and sports cable
networks, the NBC and Telemundo broadcast networks, television
production operations, television station groups, Universal
Pictures and Universal Parks and Resorts.
Visit www.comcastcorporation.com for more information.
About Charter
Charter (NASDAQ: CHTR) is a leading broadband communications
company and the second largest cable operator in the United States.
Charter provides a full range of advanced broadband services,
including Spectrum TV™ video entertainment programming, Spectrum
Internet™ access, and Spectrum Voice™. Spectrum Business™ similarly
provides scalable, tailored, and cost-effective broadband
communications solutions to business organizations, such as
business-to-business Internet access, data networking, business
telephone, video and music entertainment services, and wireless
backhaul. Charter's advertising sales and production services are
sold under the Spectrum Reach™ brand. More information about
Charter can be found at www.charter.com.
Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements. Readers
are cautioned that such forward-looking statements involve risks
and uncertainties that could cause actual events or our actual
results to differ materially from those expressed in any such
forward-looking statements. Readers are directed to Charter and
Comcast’s periodic and other reports filed with the Securities and
Exchange Commission (SEC) for a description of such risks and
uncertainties. Neither Charter nor Comcast undertakes any
obligation to update any forward-looking statements.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170508005591/en/
ComcastMediaJohn Demming, (215)
286-8011John_Demming@comcast.comorInvestorsJason Armstrong, (215)
286-7972Jason_Armstrong@comcast.comorCharterMediaJustin
Venech, (203) 905-7818Justin.Venech@Charter.comorInvestorsStefan
Anninger, (203) 905-7955Stefan.Anninger@Charter.com
Charter Communications (NASDAQ:CHTR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Charter Communications (NASDAQ:CHTR)
Historical Stock Chart
From Jul 2023 to Jul 2024