A big change is happening in the world of cable. Charter and Cox, two of the biggest cable companies in the U. S. , are joining forces. This isn't just any merger. It's one of the largest deals in the industry and across corporate America in the past year.

The deal is worth a lot of money. Cox is valued at $34. 5 billion. This includes $21. 9 billion in equity and $12. 6 billion in debt. Charter, the second-largest publicly traded cable company, is also involved. It's currently trading higher than its previous close of $419. 57.

After the merger, the combined company will have a new name: Cox Communications. This change will happen within a year of the deal closing. Charter's Spectrum brand, which covers cable, broadband, mobile, and other services, will be the main brand for all customers.

The headquarters will move to Stamford, Connecticut, where Charter is based. However, there will still be a strong presence in Atlanta, where Cox is headquartered. Chris Winfrey, the current CEO of Charter, will stay on as president and CEO. Alex Taylor, the chairman and CEO of Cox Enterprises, will become the chairman of the new company's board.

The Cox family will have a significant say in the new company. They will own about 23% of the combined company's shares. Additionally, they will have the right to keep two board members.

This merger comes after Charter announced it would acquire Liberty Broadband. That deal was approved by stockholders in February. The merger with Cox is expected to close at the same time as the Liberty Broadband deal.

The cable industry is changing fast. This merger is a big step in that direction. It will affect how customers experience cable services. It's important for consumers to stay informed about these changes. They might see new services, prices, or customer support options.

A Major Shift in the Cable World

Actions