Even though its CEO said it would make “sense” last year.
McAdam said on Thursday at the Goldman Sachs Communacopia Conference that Verizon is more interested in building up its fiber infrastructure.
“We did, I guess, about a year ago, go through a process of taking a look at cable companies. But the fiber infrastructure isn’t there,” McAdam said.
Get Data Sheet, Fortune’s technology newsletter.
McAdam said at the conference on Thursday the company would be acquiring content for its Oath business and a content deal is expected by the end of September.
McAdam said the company expects cost savings of $10 billion over four years from operating expenses and capital expenses, which would fund their dividends in 2022.
Shares of the company were marginally down at $47.06 in morning trading.