Cable giants Cox and Charter agree to $34 billion merger

5 months ago 7

Two of the largest cable companies in the US are intent on merging. Charter Communications’ proposed acquisition of Cox Communications — the largest division of Cox Enterprises — will value the former at over $34 billion inclusive of debt.

In Cox Communications, the Cox family, which acquired its first cable business in 1962, already operates the largest private broadband company in America, supplying homes in more than 30 states, and it will be the majority shareholder in the acquisition with a stake of around 23 percent. In a press release, Charter said it will inherit Cox Communications’ commercial fiber and managed IT and cloud businesses, while Cox Communications' residential cable business will move to Charter’s Charter Holdings subsidiary.

"Cox and Charter have been innovators in...

Source: https://www.engadget.com/big-tech/cable-giants-cox-and-charter-agree-to-34-billion-merger-140652859.html?src=rss

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