India, May 16 -- Charter Communications, Inc. (CHTR), a telecom and mass media firm, and Cox Communications, a digital cable television provider, on Friday announced a merger deal to form a company focused on mobile and broadband communications services, video entertainment, and others.
The proposed transaction values Cox at around $34.5 billion, comprised of $21.9 billion of equity and $12.6 billion of net debt and other obligations.
Under the terms, Charter will acquire Cox Communications' commercial fiber and managed IT and cloud businesses, and Cox Enterprises will contribute Cox Communications' residential cable business to Charter Holdings, an existing subsidiary partnership of Charter.
As per the agreement, Cox Enterprises will re...