Charter Communications said to eye takeover of Altice USA

Zoom in: Charter has hired financial advisers to evaluate a potential deal, per Bloomberg, and added that it's unclear if the company has made a formal approach.

• Charter and Altice USA declined to comment.

By the numbers: Altice USA's shares soared by nearly 50% after the Bloomberg report, giving it a market cap of around $1.2 billion. Charter's market value is around $43 billion.

The big picture: Cable and broadband providers like Charter have struggled from the decline of traditional TV packages and the rise of streaming services.

• Mobile operators like Verizon and AT&T also have eaten into their share of customers by providing home internet.