Finance

Report: Verizon CEO Open to M&A Talks

Lowell McAdam tells Bloomberg he’d be willing to wheel and deal with Comcast, Disney, CBS 4/18/2017 5:21 PM Eastern
Verizon CEO Lowell McAdam

Verizon Communications is open to merger discussions with a small set of other telecom and media giants, including Comcast, Walt Disney Co. or CBS, company CEO Lowell McAdam told Bloomberg.

Bloomberg said the exec would be interested in such merger talks if a resulting deal would help the company get better positioned for the shift toward video streaming and the infrastructure that would help to accelerate Verizon’s 5G plans.

“If Brian [Roberts, Comcast’s chairman and CEO] came knocking on the door, I’d have a discussion with him about it,” McAdam said, according to Bloomberg. “Given what I know about architecture, financial requirement, cultural fit, there’s never a dream deal.

Bloomberg said McAdam would also entertain M&A talks with Disney’s Bob Iger or CBS’s Les Mooves.

Verizon reportedly has already shown interest in acquiring Charter Communications, though Charter has apparently shown little to no interest in such potential overtures. Industry analyst Craig Moffett has since called such a marriage unlikely.

RELATED: Moffett: Verizon-Charter Deal Has Hurdles

McAdam’s comments to Bloomberg also come as Verizon bulks up on fiber to backhaul its ambitious 5G network rollout plans.

Earlier today, CNBC’s David Faber asked if Verizon would need to pursue a big infrastructure-focused deal to aid its 5G strategy.

RELATED: Verizon Adding Lots of Fiber to Diet for 5G Rollout

“I think our shareholders expect us to look at every option,” he told Faber. “But I would tell you right now we haven’t seen the architectural fit and we haven’t seen a willing seller and a buyer that have a meeting of the minds.”

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