Charter Communications Completes $34.5 Billion Merger With Cox

Charter Communications closed a $34.5 billion merger with Cox on Thursday, forming a cable giant that serves 37 million customers across 45 states. The transaction included $4 billion in cash and stock, alongside an all-stock acquisition of Liberty Broadband.

The combined entity will be renamed Cox Communications, though it will maintain the Spectrum brand for its services. Chris Winfrey will continue as CEO, while Alex Taylor, CEO of Cox Enterprises, will serve as chairman of the board. Former Cox customers are expected to gain access to Spectrum plans and services by mid-September, including a free mobile line for one year for eligible internet users.

To secure regulatory approval from the California Public Utilities Commission, the company committed $275 million to upgrade California's network and agreed to consumer protections, including automatic bill credits for outages. To satisfy federal requirements, the company also agreed to onshore offshore jobs and end diversity, equity, and inclusion initiatives.