Charter and Cox Announce Groundbreaking Merger

In a landmark deal valued at $35 billion, Charter Communications Inc. has agreed to merge with Cox Communications Inc. This strategic merger includes Cox's $12 billion in outstanding debt, with Cox Enterprises retaining a 23% stake in the newly formed entity.

A New Era for Communications

Following the merger's completion, the company will rebrand as Cox Communications, maintaining its headquarters in Stamford, Connecticut. Christopher Winfrey, Charter's CEO, will lead the combined entity, emphasizing the commitment to delivering high-value products and creating U.S. jobs with competitive benefits and career opportunities.

Market Reaction

The announcement spurred a 5.96% surge in Charter's shares during premarket trading, signaling strong investor confidence in the merger's potential.