Cable rivals Charter and Cox agree to merge

Group 1 - Charter Communications and Cox Communications have agreed to merge, marking one of the largest deals in the cable industry and corporate America in the past year [1] - The merger values Cox at $34.5 billion, consisting of $21.9 billion in equity and $12.6 billion in net debt and obligations, aligning with Charter's enterprise value based on 2025 estimated adjusted EBITDA [2] - Following the merger, the combined company will adopt the name Cox Communications and will utilize Charter's Spectrum brand for its services [4] Group 2 - Charter's CEO Chris Winfrey will continue as president and CEO of the combined entity, while Alex Taylor from Cox Enterprises will serve as chairman of the board [5] - The merger with Cox is expected to close simultaneously with Charter's acquisition of Liberty Broadband, which was approved by stockholders earlier this year [6]