Charter To Buy Cox For $21.9 Billion Amid Escalating War With Wireless

Charter Communications announced a $21.9 billion deal Friday to acquire Cox Communications, combining two major cable providers as they face mounting competition from wireless carriers offering 5G home internet. The transaction merges Charter's 31.4 million customers with Cox's 6.3 million, creating a larger entity to defend against aggressive expansion from Verizon and T-Mobile.

Charter lost 60,000 internet customers in the March quarter, underscoring the industry's vulnerability as traditional cable broadband growth stalls. Wireless carriers have successfully marketed their fixed wireless access services at lower price points while delivering competitive speeds, turning what was once cable's most profitable segment into contested territory.

The combined company, which will be headquartered in Stamford, Connecticut, plans to adopt the Cox Communications name within a year of closing while retaining Spectrum as its consumer-facing brand.

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