{"id":26137,"date":"2025-05-16T14:41:13","date_gmt":"2025-05-16T14:41:13","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/charter-and-cox-to-merge-in-blockbuster-34-5-billion-cable-deal\/"},"modified":"2025-05-16T14:41:13","modified_gmt":"2025-05-16T14:41:13","slug":"charter-and-cox-to-merge-in-blockbuster-34-5-billion-cable-deal","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/charter-and-cox-to-merge-in-blockbuster-34-5-billion-cable-deal\/","title":{"rendered":"Charter and Cox to merge in blockbuster $34.5 billion cable deal"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Charter Communications has agreed to merge with Cox Communications in a $34.5 billion deal that will combine two of the top three cable companies in the U.S.<\/p>\n<p>Cox is the third-largest cable television company in the country, with more than 6.5 million digital cable, internet, telephone, and home security customers. It has a strong foothold in states spanning from California to Virginia. Charter Communications, known more widely as Spectrum, has more than 32 million customers in 41 states.<\/p>\n<p>The cable industry has been under assault for years from streaming services like Disney, Netflix, Amazon and HBO Max, as well as internet plans offered by mobile phone companies. <a href=\"https:\/\/apnews.com\/article\/comcast-cable-spinoff-cnbc-msnbc-0d012a413e6dd863966f8d7aa0a9624d\" target=\"_blank\" rel=\"nofollow noopener\">Comcast<\/a>, which is of nearly equal size to Charter, spun off many of its cable television networks in November as as consumers increasingly <a href=\"https:\/\/apnews.com\/article\/pandemics-race-and-ethnicity-coronavirus-pandemic-f71bd0baf4799bb48b7352b8391c4e2d\" target=\"_blank\" rel=\"nofollow noopener\">swap out their cable TV subscriptions for streaming platforms<\/a>.<\/p>\n<p>So-called &#8220;cord cutting&#8221; has cost the industry millions of customers and left them searching for ways to successfully compete.<\/p>\n<p>Charter said Friday that it will acquire Cox Communications&#8217; commercial fiber and managed IT and cloud businesses. Cox Enterprises will contribute Cox Communications&#8217; residential cable business to Charter Holdings, an existing subsidiary partnership of Charter.<\/p>\n<p>Cox Enterprises will own about 23% of the combined company&#8217;s outstanding shares.<\/p>\n<p>The transaction, which needs approval from Charter shareholders as well as regulators, includes $12.6 billion in debt.<\/p>\n<p>The proposed deal is one of the largest in over a year. Mars&#8217; announced a $30 billion deal with <a href=\"https:\/\/apnews.com\/article\/mars-kellanova-eggo-skittles-pringles-b47c6906bea9c285c2a94711a543f6c7\" target=\"_blank\" rel=\"nofollow noopener\">Kellanova<\/a> last summer and Exxon Mobil&#8217;s approximately $60 billion acquisition of <a href=\"https:\/\/apnews.com\/article\/exxon-pioneer-acquisition-crude-oil-natural-gas-00e0e0eea67b7fb8bf3685221e5423d1\" target=\"_blank\" rel=\"nofollow noopener\">Pioneer Natural<\/a> happened in late 2023.<\/p>\n<p>The combined company will change its name to Cox Communications within a year after closing. It will keep Charter&#8217;s headquarters in Stamford, Connecticut, and have a significant presence on Cox&#8217;s Atlanta, Georgia campus following the closing.<\/p>\n<p>After the deal is complete, Charter CEO Chris Winfrey will become president and CEO of the combined company. Cox CEO and Chairman Alex Taylor will serve as chairman.<\/p>\n<p>Cox will be able to keep two directors on the 13-member board. Advance\/Newhouse, which is part of Charter, will retain its two board members.<\/p>\n<p>The transaction is expected to close at the same time as Charter&#8217;s merger with Liberty Broadband, which was approved by Charter and Liberty Broadband stockholders in February.<\/p>\n<p>Shares of Charter rose more than 4% before the market open. Cox is a private company.<\/p>\n<p>    <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation \">\n<p><h3 class=\"component__title\">More from CBS News<\/h3>\n<\/p>\n<\/aside>\n<p>    <!-- tags --><\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cbsnews.com\/news\/charter-cox-merger-cable\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charter Communications has agreed to merge with Cox Communications in a $34.5 billion deal that will combine two of the<\/p>\n","protected":false},"author":1,"featured_media":26138,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-26137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Charter and Cox to merge in blockbuster $34.5 billion cable deal - World News<\/title>\n<meta name=\"description\" content=\"Charter Communications&amp;#039; merger with Cox Communications will combine two of the top three cable companies in the U.S.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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