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So much for the cord-cutters and cord-nevers.
In a time where the headlines constantly reiterate the decline of linear and the rise of the streaming wars, cable giants Charter Communications and Cox Communications announced they’ve reached an agreement to merge in a $34.5 billion deal. Charter is the second-largest cable company in the U.S. after Comcast, and its combination with Cox creates a massive cable and internet enterprise.
“We’re honored that the Cox family has entrusted us with its impressive legacy and are excited by the opportunity to benefit from the terrific operating history and community leadership of Cox,” Chris Winfrey, president and CEO of Charter, said in a statement.
With the deal, Charter will acquire Cox Communications’ commercial fiber and managed IT and cloud businesses, and Cox Enterprises will contribute Cox Communications’ residential cable business to Charter Holdings. According to Winfrey, the merger will augment the combined company’s ability to innovate and provide competitively priced services.
Though there is no exact date for the close, the transaction is expected to be completed contemporaneously with Charter’s previously announced merger with Liberty Broadband, which was announced late last year.
The combined company will change its name to Cox Communications. Meanwhile, Spectrum will become the consumer-facing brand. Additionally, the combined company will remain headquartered in Stamford, Connecticut, but it “will maintain a significant presence” on Cox’s Atlanta, Georgia, campus, according to the announcement.
If the deal, which is “subject to customary closing conditions, including the receipt of regulatory and Charter shareholder approvals,” is completed, Charter CEO Chris Winfrey will continue as president and CEO, and Alex Taylor, chairman and CEO of Cox Enterprises, will become chairman of the combined company’s board.
Charter also currently expects approximately $500 million of annualized cost synergies achieved within three years of close, coming from “typical procurement and overhead savings.” As part of the transaction, Charter assumes around $12 billion of Cox Communications’ debt.
The transaction comes amid a cacophony of ongoing shakeups in the cable industry. For instance, Comcast, the current largest cabler, is spinning off several properties into the newly minted Versant.
Meanwhile, in a snapshot of consumer TV usage, Nielsen’s Gauge report for March 2025 shows a 24% share for cable across TV usage. That’s a 4% drop year over year.
