Charter Communications completed its acquisition of Cox Communications and Liberty Broadband Corporation today. The transaction expands Charter’s footprint to compete with national and global connectivity providers.
Charter paid Cox Enterprises using a mix of cash, common units, and convertible preferred units. The company acquired Liberty Broadband’s stake through an all-stock transaction.
Charter will integrate Spectrum branding and pricing across all Cox markets within 18 months. The company will implement a $20 minimum hourly wage. Charter will also deploy U.S.-based call centers across the new territories.
This consolidation reflects an ongoing trend of convergence within the communication services sector. Increased scale provides Charter greater leverage for content negotiations. The deal also supports technology investments like the Spectrum Fiber Broadband Network.