Sprint, the nation's fourth-largest wireless network, is pursuing a merger with the cable company Charter Communications, according to a report by the Wall Street Journal. The potential tie-up could create a new firm that would be controlled by Sprint Chairman Masayoshi Son and his Japanese megacompany, SoftBank, the Journal said. Charter and Comcast had jointly agreed this spring not to start merger or acquisition talks with another wireless company for at least a year without each other's participation or go-ahead. The agreement between Comcast and Charter helped dampen analyst expectations that either company was imminently planning a major leap into wireless. News of the potential deal appeared to lift investors' hopes; shares of Sprint surged by nearly 6 percent in after-hours trading Friday.

Source: Washington Post July 29, 2017 01:15 UTC