Comcast, Charter Ink Business MVNO Deal with T-Mobile
The cable operators will be able to offer wireless service to mid-size businesses.
WASHINGTON, July 23, 2025 – Comcast and Charter have reached a deal with T-Mobile to offer wireless services to businesses on the mobile carrier’s network.
“This is truly a win-win as Charter and Comcast Business customers are benefiting from T-Mobile’s advanced network and T-Mobile gains incremental value from the unique business segment that our partners serve today with broadband,” Omar Tazi, T-Mobile’s EVP and chief product and digital officer, said in a statement.
The companies did not disclose the financial terms of the deal.
Comcast and Charter are the two largest ISPs in the country, collectively passing more than 120 million locations with their sprawling wireline networks. They now have the ability to offer businesses in that footprint bundled fixed and mobile broadband service via the “long-term” mobile virtual network operator (MVNO) deal with T-Mobile.
“Arming Charter and Comcast with attractive converged solutions for medium and large enterprise customers will threaten Verizon’s share in mobile and make cable a more formidable competitor for fixed services,” New Street Research analyst Jonathan Chaplin wrote in an investor note Tuesday.
Verizon has an existing MVNO deal with Comcast and Charter to offer consumer wireless service. The cable operators could serve businesses, but were limited to a certain number of lines that effectively made all but the smallest companies off limits, according to New Street and other analysts. The Verizon MVNO will continue to serve existing business customers, according to the release from Charter.
The annual cash from cable’s existing MVNO deal is essential for Verizon, analysts say, making up billions in free cash flow. And a separate deal with T-Mobile gives the cable companies more leverage in renegotiating the terms of their deals in the near future.
“Verizon signaled that they expected the MVNO rate to increase,” Chaplin wrote. “The odds of an increase have just plummeted and there is now some prospect of a decrease in the rate.”
The cable operators have been leaning into their consumer wireless offerings as well, with more than 18 million customers between them. It’s a means of stemming fixed broadband losses amid higher competition and serves as a major upside of Charter’s pending acquisition of Cox Communications, which has a less developed mobile service and would provide more growing room for Charter’s converged services.
T-Mobile will hold its second quarter earnings call at 4:30 p.m. on Wednesday.
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