New Cable Giant Emerges: Charter Closes $34.5 Billion Deal For Cox and Liberty

Charter Communications has completed its merger with Cox Communications and acquisition of Liberty Broadband, creating a new cable powerhouse.

“These transformative transactions create the leading broadband and video company in the nation and the fastest-growing mobile provider in its footprint, with seamless connectivity and video entertainment, and high-quality customer service delivering powerful benefits for customers, local communities, employees and shareholders,” the cable giant said.

“The addition of Cox to the Spectrum footprint is one that can be celebrated by customers, employees and investors alike,” said Chris Winfrey, Charter president and CEO. “Together, we will bring the best products, at the best price, coupled with the highest level of customer service to more customers across our expanded 45-state Spectrum footprint. And Cox employees will soon have access to all the programs and benefits that have made Charter an employer of choice where its 100 percent U.S.-based employees can build long-term careers.” Related Stories Business Charter TV Subscriber Losses Narrow to 21,000 in Second Quarter Business Paley Center to Honor John Malone With Annual Keynote Address (Exclusive)

He added: “The market has changed considerably over the past decade, and regional providers like Spectrum are competing with national and even global connectivity and entertainment companies. Today, with expanded scale, we are better positioned to compete and continue investment in our products and service, tools and platforms, and to further the capability and reach of our Spectrum Fiber Broadband Network.”

Eric Zinterhofer, who had served as chairman of Charter’s board, added: “Congratulations to Chris, the Charter team and the Cox family for completing an industry-transforming transaction. I look forward to serving as lead independent director as Alex Taylor becomes Charter’s next chairman.”

Liberty Broadband chair John Malone said: “When Liberty first invested in Charter more than a decade ago, we saw an opportunity to build scale behind a great management team and operating model. The combination of Charter and Cox creates a stronger, more competitive company to further invest and innovate, while giving Liberty Broadband shareholders a direct interest in its future. I have tremendous respect for the Cox family and its long tradition of entrepreneurial leadership and responsible stewardship, and I look forward to seeing what Chris, Alex and their teams accomplish together.”