The Federal Communications Commission approved Charter Communications’ $34.5 billion acquisition of Cox Communications on February 27 2026, clearing the final regulatory hurdle for the deal. The transaction values Cox at an enterprise value of $22 billion and will add Cox’s residential cable, commercial fiber and managed‑IT businesses to Charter’s portfolio, expanding its reach to an additional 6.5 million customers and bringing the combined entity to roughly 37.5 million customers.
The acquisition gives Charter access to Cox’s rural fiber assets and B2B capabilities, positioning the company to accelerate its strategy of becoming a converged connectivity provider. Charter will acquire Cox’s commercial fiber, managed‑IT and cloud businesses, while Cox Enterprises will contribute its residential cable business to a Charter subsidiary. The combined company will eventually adopt the Cox Communications name, with Spectrum remaining the consumer‑facing brand.
Financially, the deal will increase Charter’s debt load by assuming Cox’s approximately $12 billion of outstanding debt. The combined entity is expected to target a leverage ratio of 3.50–4.00x and to generate about $500 million in annualized cost synergies within three years through procurement and overhead savings.
The FCC’s approval was accompanied by remarks from Chairman Brendan Carr, who said, "By approving this deal, the FCC ensures big wins for Americans. This deal means that jobs are coming back to America that had been shipped overseas. It means that modern, high‑speed networks will get built out in more communities across rural America. And it means that customers will get access to lower priced plans. On top of this, the deal enshrines protections against DEI discrimination."
Charter President and CEO Chris Winfrey added, "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." He continued, "Cox and Charter have been innovators in connectivity and entertainment services – with decades of work and hundreds of billions of dollars invested to build, upgrade, and expand our complementary regional networks to provide high‑quality internet, video, voice and mobile services. 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."
The merger places the combined company as the largest cable broadband provider in the United States, positioning it to better compete against fiber, satellite and fixed‑wireless providers while delivering faster broadband speeds and lower prices to consumers, particularly in rural areas. The deal also signals Charter’s commitment to onshoring jobs and extending its $20‑hour minimum wage to Cox workers, further strengthening its competitive and social positioning in the market.
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