Such a deal would also be a counterpunch to rival AT&T Inc.’s planned purchases of DirecTV and Time Warner Inc.
Verizon Chief Executive Lowell McAdam told friends at the Consumer Electronics Show in Las Vegas earlier this month that he wants to buy into cable, one source told the New York Post.
“They need it for 5G,” said a second source, confirming McAdam’s interest.
The most likely targets would be “Charter or Comcast,” the source noted.
“Altice is too small,” the source speculated.
“Still, McAdam has been under pressure recently with Verizon’s deal to acquire Yahoo still a question mark months after two major hacks of the internet portal were revealed,” the Post explained.
Yahoo came under renewed scrutiny by federal investigators and lawmakers last month after disclosing the largest known data breach in history, prompting Verizon to demand better terms for its planned purchase.
“The wireless giants operate on 4G wireless networks but are preparing to become a real alternative to the cable company with phone, TV and data services,” the Post said.
“To do that more effectively, the phone companies are pouring money into 5G connections that can work with cable systems to provide more stable coverage for consumers,” the Post explained.
Meanwhile, Verizon’s deal for Yahoo is anything but certain.
A senior Verizon executive said earlier this month the company was unsure about its planned acquisition of Yahoo Inc.’s internet business.
“I can’t sit here today and say with confidence one way or another because we still don’t know,” Marni Walden, president of product innovation and new businesses, said at the Citi 2017 Internet, Media & Telecommunications Conference in Las Vegas.
However, Walden added that the merits of the deal still made sense, Reuters reported.
(Newsmax wire services contributed to this report).
