Charter Communications closes $34.5B Cox deal and Liberty acquisition

Charter Communications completed its $34.5 billion acquisition of Cox Communications alongside an all-stock acquisition of Liberty Broadband, Mobile World Live reported in August 2026.

TL;DR

• Charter completed its $34.5 billion Cox Communications transaction and a concurrent Liberty Broadband acquisition.
• The combined Charter Spectrum footprint now spans 45 US states.
• Cox Enterprises and its subsidiaries now own about 26% of the combined company’s fully diluted shares outstanding.
• Charter plans to adopt the Cox Communications brand within the next year while continuing to use the Spectrum name across all markets.

Charter Communications said the transaction expands the Charter Spectrum footprint across a unified 45-state territory in the United States. The combined company will remain headquartered in Stamford, Connecticut, and keep a presence in Cox’s former headquarters in Atlanta, Georgia. Spectrum’s full suite of products, pricing and packaging is scheduled to launch across all former Cox markets in mid-September.

Under the Cox Communications transaction, a subsidiary of Cox Enterprises received about 33.6 million common units in Charter’s existing partnership valued at roughly $5 billion, $6 billion in convertible preferred units with a 6.875% coupon convertible into 12.6 million common units, and about $4 billion in cash. Charter said this equated to just over 46 million Charter shares issued to the Cox Enterprises subsidiary. Charter also assumed about $12 billion in existing Cox debt and finance leases, and Cox Enterprises and its subsidiaries now own about 26% of the combined entity’s fully diluted shares outstanding.

Under the Liberty Broadband transaction, each Liberty Broadband common stock holder received 0.236 of a Charter share. Charter retired about 38.6 million Charter shares previously owned by Liberty Broadband and issued about 33.9 million new shares, for a net reduction of roughly 4.7 million shares outstanding. Charter also assumed about $840 million of Liberty Broadband net debt, which it said would be repaid shortly after closing, and $180 million of preferred equity that converted into Charter preferred stock. Alex Taylor became chairman of Charter’s board, Chris Winfrey remained president and chief executive, and Cox Enterprises added Dallas Clement and Mark Greatrex to Charter’s 13-member board.

Related questions

• How much did Charter Communications pay for Cox Communications?
• How many US states are covered by the combined Charter Spectrum footprint?
• What stake do Cox Enterprises and its subsidiaries hold in the combined company?
• What were the share terms of the Liberty Broadband acquisition?