Charter and Cox Communications to Merge in $34.5 Billion Deal

Two of the largest cable companies in the U.S., Charter Communications and Cox Communications, have agreed to merge in a deal valued at $34.5 billion. The agreement includes $21.9 billion in equity and $12.6 billion in debt, according to a joint news release on Friday.

The combined company will be one of the most significant players in the U.S. broadband and cable industry. Charter’s consumer-facing brand, Spectrum, will remain the brand for cable, internet, and mobile services after the merger.

Charter CEO Chris Winfrey called the merger “good for America,” stating that it will help bring back jobs from overseas and create new roles in customer service and sales.

Cox Communications, currently a private company owned by the Cox family, is the largest privately held broadband company in the U.S. The merger will see Cox Enterprises own about 23% of the new company’s shares once the deal is completed.

Charter currently serves over 31 million customers across 41 states, while Cox has around 6.3 million customers in more than 30 states. Together, the new company will reach nearly 70 million homes and businesses across 46 states and have about 38 million customer relationships.

The deal also comes at a time when the broadband market is facing more competition from wireless internet providers and newer fixed wireless services like 5G. Traditional cable TV subscriptions are declining, pushing companies like Charter and Cox to focus more on broadband and mobile services.

In the first quarter of 2025, Charter reported 30 million broadband customers and 12.7 million TV customers, though both numbers showed slight declines. Its mobile service continues to grow, with 10.5 million mobile lines reported.

Cox, which began offering mobile services in 2023, brought in $13.1 billion in revenue last year and reaches about 12 million homes with its services.

Following the deal, the combined company will be headquartered in Stamford, Connecticut, where Charter is currently based, but will maintain a major presence in Cox’s hometown of Atlanta. Chris Winfrey will remain CEO, while Cox Enterprises’ Alex Taylor will become chairman of the new board. The Cox family will also retain two board seats.

The merger is expected to close alongside Charter’s pending acquisition of Liberty Broadband. While a specific closing date is unclear, Winfrey said they hope to complete both transactions by mid-next year, pending regulatory approvals.