It was a strange, surreal time for Charter Communications on Tuesday when the company announced it would be adding a second charter spectrum purchase to its portfolio.
The company had already announced it was going to buy spectrum from an unnamed partner to expand its network footprint in New York, which had been one of the biggest challenges for Charter.
But Wednesday’s announcement of a second acquisition was a bit more surprising.
Charter’s plan to buy Spectrum would be the first time that the company has bought spectrum from a partner in New Jersey, according to a statement from CEO John Stephens.
The purchase of Spectrum from Spectrum partner T-Mobile would help to further expand Charter’s footprint in the Northeast, the statement said.
In the last two years, Charter has added more than 1,000 new customers to its network, and it is working to add an additional 300,000 subscribers by the end of the year, the company said.
Charter also has a $30 billion contract with T-Mob to provide high-speed Internet service in New Brunswick, according the statement.
This is the second spectrum purchase the company made this year.
In February, Charter bought Spectrum from another unnamed partner in Connecticut.
In a statement, Stephens said he believes the purchase of spectrum is an appropriate step in the Charter’s long-term evolution to become a reliable and resilient communications provider.
It also gives Charter the ability to invest in the infrastructure necessary to deliver high-quality wireless and Internet service, the announcement said.
The deal is expected to close by the middle of next year.