For the first time in the company’s long history, Verizon Communications Inc. (NYSE: VZ) lost a whopping 307,000 wireless customers in the first quarter. The company’s stock is down almost 14%, making it the worst performing stock in the venerable Dow Jones Industrial Average.

Now that all four major U.S. wireless carriers have unlimited data plans, the carrier business has kicked off a race to the bottom. Where carriers once made handsome margins on usage overage charges, these are no longer available to subscribers to the unlimited plans. Instead, Verizon and its competitors throttle the connection speed once the “unlimited” package hits a certain level.

Verizon and AT&T had combined subscriber losses of almost a half a million customers, which added up to big gains for the competition. In a new research report, Merrill Lynch makes the case that it is “game on” for Verizon, as merger discussions that were prohibited under anti-collusion rules will be possible now.

The analysts noted that the company, via press reports, has been linked to five potential strategic partners. All five would be expensive targets, but each could add the kind of programming content and distribution that is so highly valued now. Interestingly, four of the five are rated Buy at Merrill Lynch.

CBS

This large cap broadcaster has nicely bounced off the lows printed last fall but still could be an incredible value. CBS Corp. (NYSE: CBS) may be in the best position of all the broadcast networks with an outstanding prime time lineup, solid sports franchises like the NFL, March Madness College Basketball, The Masters and other top programming, the venerable network could once again be an outstanding stock for shareholders.

The company is leading in the ratings and is poised to continue the network’s programming dominance in 2016. The broadcasting giant is now in the midst of a significant stock repurchase process, and many on Wall Street expect the company to shrink its share base by around 25% over the next two years.

CBS shareholders receive a 1.27% dividend. The Merrill Lynch price target for the stock is $78, and the Wall Street consensus figure is $73.59. Shares closed Friday at $66.56.

Charter Communications

This top cable giant also has been closely linked to Verizon in takeover chatter. Charter Communications Inc. (NASDAQ: CHTR) is a leading broadband communications company and the fourth-largest cable operator in the United States. It provides a full range of advanced broadband services, including Spectrum TV video entertainment programming, Spectrum Internet access and Spectrum Voice.

Spectrum Business similarly provides scalable, tailored and cost-effective broadband communications solutions to business organizations, such as business-to-business internet access, data networking, business telephone, video and music entertainment services and wireless backhaul.

Top Wall Street analysts have cited potential growth and strong free cash flow generation following the merger with Time Warner Cable and Bright House Networks as a huge positive. They also note they feel that the merger concerns are way overblown and they expect the company to aggressively seek subscriber acquisition.

The $360 Merrill Lynch price target compares with consensus target of $358.60. The shares closed Friday at $345.16.

Comcast

This broadcasting-related stock could have solid upside potential and is on the Merrill Lynch US 1 list. Comcast Corp. (NASDAQ: CMCSA) is the largest U.S. provider of cable services, with over 22 million basic subscribers. It owns NBCU, which includes the NBC TV Networks, Telemundo, MSNBC, USA, SyFy, Bravo, E!, CNBC and several other cable networks, as well as Universal Films and Universal Theme Parks.

Comcast has invested in technology to build an advanced network that delivers among the fastest broadband speeds and brings customers personalized video, communications and home management offerings. Some analysts have revised their first-quarter estimates higher and also think the company could benefit from regulatory and potential tax relief.

Comcast investors receive a 1.68% dividend. Merrill Lynch has set its price target at $45. The consensus price objective is $42.61, and shares ended last week at $39.19.

Disney

This company is a top consumer media company with multiple streams of income to push revenue and is also on the Merrill Lynch US 1 list. Walt Disney Co. (NYSE: DIS) stock continues outperforming on a near-term and long-term basis. With the movie studio business poised to improve, as with accelerating theme park business, the network programming continues to drive viewership with extensive sports programming. Combining that revenue growth with the company’s solid media networks and interactive presence, and 2017 revenue estimates could be conservative.

The Disney Media Networks segment operates broadcast and cable television networks, domestic television stations and radio networks and stations, and it is involved in the television production and television distribution operations. Its cable networks include ESPN, Disney Channels and ABC Family, as well as UTV/Bindass and Hungama. This segment also owns eight domestic television stations. Disney is also one of 24/7 Wall St. top ten stocks to own for the next decade.

Disney shareholders receive a 1.36% dividend. Merrill Lynch has a $134 price target, and the consensus price objective is $119.11. The shares closed Friday at $115.60.

Dish Network

Plenty of analysts on Wall Street think the value of the company’s spectrum is significantly undervalued by the market. Dish Network Corp. (NASDAQ: DISH), through its subsidiaries, provides approximately 13.909 million pay-TV subscribers, as of Sept. 30, 2015, with the highest-quality programming and technology with the most choices at the best value. Dish offers a high-definition lineup with more than 200 national HD channels, the most international channels and award-winning HD and DVR technology.

Dish also offers its Sling TV services that require an internet connection and are available on streaming-capable devices, including TVs, tablets, computers, game consoles and smartphones, primarily to consumers who do not subscribe to traditional satellite and cable pay-TV services. Additionally, the company operates Sling International, which offers over 200 channels in 18 languages. The Sling domestic package consists of over 20 channels and tiers of programming, including sports, kids, movies, world news, lifestyle and Spanish language, and premium content, such as HBO.

Merrill Lynch rates the stock Underperform and has a $48 target. The posted consensus figure is $74.59. Shares closed last Friday at $64.44.

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These five companies could all be in the sights of the Verizon management. While Charter probably has been tossed about the most in terms of takeover chatter, all these have been mentioned and could be in play.

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