California Approves Charter's $21.9B Cox Acquisition
On Thursday, the California Public Utilities Commission (CPUC) unanimously approved Charter Communications' acquisition of Cox Communications for $21.9 billion. This marks the last regulatory barrier for the $34.5 billion deal, which includes debt. With this approval, Charter will significantly broaden its reach by incorporating Cox's cable systems in states like Arizona, Florida, and Virginia. The transaction is anticipated to finalize in the first half of 2025, pending standard conditions. Charter aims to strengthen its competitive stance against major players such as Comcast and AT&T while providing high-speed internet and advanced video services to a wider audience. The CPUC's decision followed an extensive evaluation of consumer impact, competition, and public interest, representing a significant milestone for Charter after a year-long pursuit.
Key facts
- California Public Utilities Commission voted unanimously Thursday to approve Charter's acquisition of Cox.
- The acquisition is valued at $34.5 billion, including debt.
- The deal is Charter's $21.9 billion acquisition of Cox Communications.
- The approval clears the final regulatory hurdle.
- The transaction is expected to close in the first half of 2025.
- Cox's cable systems are in Arizona, Florida, and Virginia.
- Charter aims to compete with Comcast and AT&T.
- The CPUC reviewed impacts on consumers, competition, and public interest.
Entities
Institutions
- California Public Utilities Commission
- Charter Communications
- Cox Communications
- Comcast
- AT&T
Locations
- California
- Arizona
- Florida
- Virginia
Sources
- Quartz —