Sprint Reportedly Proposes Merger With Charter Communications

(RTTNews) - Sprint Corp. (S) proposed a merger with Charter Communications Inc. (CHTR) that would create a media and communications giant, the Wall Street Journal reported citing people familiar with the matter.

Since the end of May, Charter and Comcast Corp. had been in exclusive talks with Sprint over possible deals, including one that would allow the cable companies to resell wireless service under their own brands. Though the exclusivity window ended this week, Sprint Chairman Masayoshi Son continues to pursue a much larger deal with Charter, the report said.

The complex proposal calls for the creation of a new publicly traded entity that would combine Sprint and Charter and be controlled by Japan's SoftBank Group Corp., the report said. SoftBank, whose chairman is also Mr. Son, already controls Sprint.