New Delhi, May 16 -- Charter Communications has agreed to acquire Cox Communications in a $34.5 billion merger amid a years-long struggle faced by cable companies due to the rising popularity of streaming services. The companies made a definitive agreement to combine their businesses in a transformative transaction.

The proposed merger of Charter and Cox will bring together two of the top three cable companies in the US.

Cox Communications is the third largest cable company in America. The company boasts of 6.5 million digital cable, internet, telephone and home security customers. It has a strong presence across states in the US, spanning from California to Virginia.

On the other hand, Charter Communications, popularly known as Spectr...