Broadband and cable TV provider Charter (CHTR.O) is in advanced talks to combine with peer Cox Communications in a deal that will value Cox at more than $30 billion and unite two of the biggest cable providers in the United States, Bloomberg News reported on Friday.
Reuters could not immediately confirm the report.
U.S. media companies are considering options for fading cable TV businesses, a longtime cash cow where revenues are eroding as millions of consumers embrace streaming video.
Last month, Charter reported revenues that topped estimates as it benefited from plans that offer customers the option to combine internet, TV and phone services into a single, customizable package.
Cox, the largest private broadband provider in the U.S., also provides cable services, according to its website.
The companies are discussing a cash and stock transaction that would value Cox at more than $30 billion, including debt, Bloomberg News said, citing sources.
A deal could be announced within days, the report said, adding that the Cox family would be the largest shareholder in the combined entity with a stake of about 20% and would have seats on its board.
Charter and Cox did not immediately respond to requests for comment outside regular business hours.
Charter shares closed at $419.57 on Thursday, giving it a market capitalization of $58.9 billion, according to LSEG data.
