Two of the nation’s largest cable companies, that also have a large presence in northeastern North Carolina and southeastern Virginia, have announced they will be merging in a $34.5 billion transaction.
Charter Communications and Cox Communications will become one company around the middle of next year, and be renamed sometime in 2027 to Cox Communications with the Spectrum branding on its offerings.
The deal to create the largest cable company in the United States is pending the clearing of a number of regulatory hurdles and will need approval of the Trump Administration.
Charter’s Spectrum provides cable television, internet, and wireless phone services to all of the Outer Banks, Elizabeth City, and Gates and Hertford counties, and is the largest cable company in the state.
Cox offers the same services in Virginia Beach, Chesapeake, Portsmouth, Norfolk, Hampton, Newport News and Williamsburg, with Spectrum serving Suffolk.
While Charter is a publicly traded company, Cox has been privately held since 2005.
“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,” said Charter CEO Chris Winfrey in a statement.
“Our family has always believed that investing for the long-term and staying committed to the best interests of our customers, employees and communities is the best recipe for success,” said Cox Chairman and CEO Alex Taylor.
“In Charter, we’ve found the right partner at the right time and in the right position to take this commitment to a higher level than ever before, delivering an incredible outcome for our customers, employees, suppliers and the local communities we serve.”
The merger with Cox comes months after Charter announced it would acquire Liberty Broadband in an all-stock deal, CNBC reports.
The combined company’s network will span approximately 46 states, making it available to nearly 70 million homes and businesses, with 38 million customers.
The headquarters will be located at Charter’s offices in Stamford, Connecticut, with a “significant presence” at Cox’s campus in Atlanta.
