Cable: Charter-Cox Agree To Merger

Charter Communications and Cox Communications, two leading U.S. cable providers, have agreed to merge in a landmark deal, creating one of the largest cable entities in the country.

Valued at $34.5 billion on an enterprise basis, the transaction includes $21.9 billion in equity and $12.6 billion in net debt and other obligations, aligning with Charter’s 2025 estimated EBITDA multiple.
Charter, the second-largest publicly traded cable company after Comcast, saw its stock rise in premarket trading from its prior close of $419.57. Cox, privately held by the Cox family, ranks among the top cable providers.

Post-merger, Cox Enterprises will hold approximately 23% of the combined company’s fully diluted shares. Within a year of closing, the merged entity will adopt the Cox Communications name, with Charter’s Spectrum brand serving as the consumer-facing identity for cable, broadband, mobile, and other services.

The combined company will maintain Charter’s Stamford, Connecticut, headquarters but retain a significant presence in Cox’s Atlanta base. Charter CEO Chris Winfrey will continue as president and CEO, while Cox Enterprises’ chairman and CEO, Alex Taylor, will chair the new board. Another Cox executive will join the board, and the Cox family will secure two board seats.

The merger follows Charter’s February 2025 approval to acquire Liberty Broadband in an all-stock deal, streamlining cable magnate John Malone’s holdings.