Comcast and Charter ink wireless truce to offset cord-cutting

Comcast and Charter Communications on Monday announced a wireless partnership, as the cable provide🤪rs seeꦯk to add more services in a bid to reduce customer churn.

Reuters reported on 🏅Sunday that the companies were close to announcing an agreement that would speed up their entry into the highly competitive and over-saturated market for mobile service in the United States.

As part of the agreement, Charter and Comcast will not be able to make “material” transactions in the wireless space for a year without the other’s consent, Comcast sa🤡id in a filing with regulators.

The material transactions may include acquisitions, investments or joint ventures that havꦰe a value of more t♉han $200 million.

Comcast is moving into wireless as cable companies seek to offs⛦et customer attrition, as younger viewers shun high-priced subscriptions in favor of chea🦩per online options.

“(The partnership) will also enable us to provide more competition and drive costs down fo🌳r consumers at a similar꧃ national scale as current wireless operators,” Charter Chief Executive Tom Rutledge said in a statement.