Charter Communications Considers Takeover of Altice USA

Shares of Altice USA soar following reports of a potential acquisition by Charter Communications, amidst struggles in the cable industry.

Charter Communications is exploring a potential takeover of Altice USA, causing Altice's shares to surge by as much as 63%.
Despite no formal approach confirmed, Charter is working with financial advisors to assess the viability of the acquisition.
Altice USA's stock experienced its biggest jump since its 2018 spinoff, briefly halting trading.
Both companies have faced significant stock declines over the past year, with Charter down 22% and Altice down 53% before the news.
The potential acquisition comes as both companies grapple with losing subscribers and increased competition from wireless and streaming services.