Telecom Stock Roundup: Charter Communications To Enter Wireless Market, Verizon Plans To Buy Vessel
Zacks Investment Research | Sep 28, 2016 10:00PM ET
The telecom industry had a steady run on the bourse last week as most of the key stocks traded in the green.Several significant developments ruled the headline with Charter Communications Inc. (NYSE:T) at the forefront.
The company has announcedthat it will foray into the wireless market. Charter Communications will activate its MVNO (mobile virtual network operator) agreement with Verizon Communications Inc. (NYSE:VZ) , which was taken over post the acquisition of Time Warner Cable.The company will also install several WiFi hotspots across cities to expand its wireless network.
Additionally, Charter Communications recently entered into an agreement withU.S. national wireless carrier T-Mobile US Inc. (NYSE:T) to sella license of 700 MHz A Block spectrum for Eastern Montana to the latter. The spectrum will cover 600,000 POPs (point of presence) and 120,000 square miles of geographical area. However, the financial terms of the contract are yet to be disclosed.
According to a recent report by technology news website Recode, U.S. telecom behemoth Verizon is in talks to purchase the new video-online subscription service, Vessel.Launched in 2015, Vessel is a mobile-video start-up which allows content creators to earn more than one can on YouTube.
According to a recent Bloomberg report, U.S. telecom behemoth AT&T Inc. (NYSE:T) will shut down its DIRECTV satellite TV services in a phased manner within the next 3 to 5 years.Going ahead, AT&T has already hinted that its upcoming “DIRECTV Now”, over-the-top (OTT) Internet TV service, which will offer video streaming facilities, will be its next-generation video platform. AT&T currently carries a Zacks Rank #3 (Hold). You can see Original post
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