Charter Communications to Acquire Cox Communications in $21.9 Billion Deal

Charter Communications is set to acquire privately held Cox Communications for $21.9 billion, marking a significant consolidation move in the cable and broadband sector. The merger, one of the largest this year, seeks to strengthen Charter's competitive edge as it faces challenges from streaming platforms and wireless carriers.

CEO Chris Winfrey announced that the acquisition is expected to enhance Charter's ability to offer competitively priced bundled services. The merger will undergo regulatory scrutiny, particularly concerning its impact on competition and consumer pricing within the broadband and cable markets.

The deal will create the largest U.S. cable TV and broadband provider, surpassing Comcast with approximately 38 million subscribers. Cox's customer service jobs are set to return to the U.S., which analysts suggest may appeal to antitrust considerations. The transaction includes taking on Cox's net debt, totaling an enterprise value of $34.5 billion.

(With inputs from agencies.)