Comcast as well as Charter are working together on a wireless offering

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Comcast as well as Charter, the nation’s two largest cable companies, have agreed to work together to enter the ultra-competitive wireless business.

Today, the companies each can buy data allotments in bulk through Verizon as well as resell them as wireless plans under their own brands. inside the future, Comcast (CMCSA) as well as Charter (CHTR) say they will work on wireless together, including similar reseller agreements or even developing their own wireless technology to sell directly to their customers.

They also will not make deals with currently wireless providers without the agreement as well as possible cooperation of the additional for at least a year.

Each company, which competes with Verizon (VZ, Tech30) on cable as well as internet service, has an interest in stemming the tide of cord cutting. One way to do in which: get a foothold inside the booming world of wireless, which is actually how many customers are consuming the majority of video as well as internet.

“By working with the team at Comcast, we can not only speed Charter’s entry into the [wireless] marketplace, the item will also enable us to provide more competition as well as drive costs down for consumers at a similar national scale as current wireless operators,” said Charter CEO Tom Rutledge.

Related: Verizon loses wireless customers for initially

Comcast, the nation’s largest cable provider which also owns NBC Universal, is actually planning to launch a Xfinity Mobile offering to its customers in a matter of weeks. This specific won’t change those immediate plans however will allow the item to make the offering more efficient as well as cost effective, said Comcast CEO Brian Roberts.

There has been speculation in published reports in which the deal could lead the two companies to eventually make a joint bid for one of the existing wireless providers such as Sprint (S) or T-Mobile (TMUS).

sy88pgw (brand-new York) First published May 8, 2017: 8:00 AM ET

Comcast as well as Charter are working together on a wireless offering

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