Comcast and Charter Communications have formed a wireless partnership to speed up their entry into the highly competitive market for mobile service in the US.
Charter and Comcast have agreed not to make “material” transactions in the wireless space for a year without the other’s consent. The material transactions may include acquisitions, investments or joint ventures that have a value of more than $200 million.
Comcast is moving into wireless as cable companies seek to offset customer attrition, as younger viewers cut the cord.
“(The partnership) will also enable us to provide more competition and drive costs down for consumers at a similar national scale as current wireless operators,” Charter Chief Executive Tom Rutledge said.