Charter shares surge on possible Verizon deal

Corrections and clarifications: This story has been updated to reflect Time Warner spun off its cable TV business in 2009. 

Shares of Charter Communications jumped nearly 10% in pre-market trading Thursday following a report of a potential deal with Verizon.

According to The Wall Street Journal, Verizon is exploring a "combination" with the cable company, which acquired Time Warner Cable last year for $56 billion.

The report says Verizon CEO Lowell McAdam approached Charter officials about a deal and is studying a combination with advisers. Charter and Verizon declined to comment on the report.

Verizon boasts a combined 10.4 million FiOS customers between broadband and video, while Charter services a combined 38 million customers with its Internet and TV offerings.

A possible merger would give Verizon a boost as it battles with rival AT&T, the owner of DirecTV satellite television service. Last year, AT&T agreed to acquire Time Warner, owner of media properties including CNN, HBO and Warner Bros. Time Warner split from its cable business in 2009.

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