Charter Communications plans to merge with Cox Communications in a deal valued at $34.5 billion, merging significant cable and communication assets. This merger aims to create a powerhouse in mobile and broadband services that will benefit various stakeholders. Charter will acquire Cox's commercial fiber and IT services, alongside taking on Cox's debt. The new company will be led by Charter's CEO Chris Winfrey and retain a major presence in Atlanta while rebranding to Cox Communications. The move is positioned as a response to the competitive cable industry landscape.
"The merger will create an industry leader in mobile and broadband communications services, seamless video entertainment, and high-quality customer service delivering powerful benefits for American employees, customers, communities, and shareholders."
"This combination will augment our ability to innovate and provide high-quality, competitively priced products, delivered with outstanding customer service, to millions of homes and businesses."
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