Charter Communications and Cox Communications say they will put America first by returning jobs from overseas after Charter agreed to buy its family owned rival for $21.9 billion.
The deal brings together Charter’s 31.4 million customers with Cox’s 6.3 million customers, mostly located in the so-called sunbelt states of southern and southwestern United States.
“We’re honoured 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,” said Chris Winfrey, President and CEO of Charter. “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.”
The combined company will change its name to Cox, but run Spectrum as its consumer facing brand.
The Cox family is the longest continuous operator in the industry, having acquired its first cable television franchise in 1962. “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 Alex Taylor, Chairman and CEO of Cox Enterprises.
The combined company will remain headquartered in Stamford, CT, and will maintain a significant presence on Cox’s Atlanta, GA campus following the closing.
