Charter completes $34.5-billion Cox takeover, expands Spectrum to millions

M&A · Partnership
โดย Los Angeles Times·US·Read original
Summary · why it matters

Charter Communications finalized its $34.5-billion acquisition of Cox Communications early Thursday, adding millions of internet and TV customers in Southern California and Las Vegas. Cox subscribers will transition to Spectrum packages by mid-September, and starting this weekend they will gain access to SportsNet LA, ending a decade-long blackout of Dodgers games. Charter pledged to California regulators to offer affordable broadband, spend at least $275 million on network upgrades, and invest $30 million in digital literacy and device access. Next year Charter will rename itself Cox, and Alex Taylor, chairman and CEO of parent Cox Enterprises, will become chairman of the Charter board.

Impact on stocks 1

Communication Services▲ · 1 stocks

Off-coverage companies 2

Cox CommunicationsPrivate▲ Positive
Capitalrelevance

Cox Communications is acquired by Charter, with subscribers transitioning to Spectrum.

Cox EnterprisesPrivate▲ Positive
Capitalrelevance

Cox Enterprises' chairman becomes Charter's chairman, and the company will be renamed Cox.

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