Charter Communications said Friday that it would buy the private Rival of COX Communications for $ 21.9 billion, joining two of the largest cable and wide -generation operators while they fight the broadcast giants and mobile carriers for clients.
US media companies are reviewing options for their once lucrative cable television businesses that are now downward as millions of customers lead for broadcasters such as Netflix.
Union-One of the biggest agreements of the year globally-will assist Charter Better Bundle Broadband and mobile services, as he tries to keep customers not to pass to wireless providers such as T-Mobile who have their internet plans.
The card strategy for combining internet services, TV and mobile in a single, personalized package helped it beat quarterly income estimates last month.
Analysts say the strategy withdrawal is visible, but it needs scale as cable firms rely on the rental network access by key carriers to provide mobile plans.
“This combination will increase our ability to innovate and provide high quality, competitive price,” said CEO Card Winfrey, which will lead the combined company.
Card shares increased almost 2%.
As part of the cash and stock agreement, the cards will also take over COX about $ 12.6 billion net debt and other liabilities.
This gives the agreement a value of the enterprise of about $ 34.5 billion.
Cox Enterprises will own about 23% of the united entity, with its CEO Alex Taylor serving as chairman.
The combined firm will reprint as Cox Communications within a year from the closing of the deal, with the card spectrum becoming brands facing customers at Cox Markets.
Cox Communications is the largest division of COX-controlled companies controlled by the family founded in 1898 by former Ohio Governor James Cox, with interest in cable, automobile and media including AXIOS.
Cards and Cox had also discussed a union in 2013 before refining the plan.
But speculations had increased again in the last few months after the cable billionaire John Malone said on the November card should be allowed to join rivals such as Cox, shortly after the card agreed to buy its Broadband Liberty.
Without specifying a date, Charter said her purchase of Cox was expected to close along with the previously announced agreement Liberty Broadband.
Liberty Broadband shareholders will take on direct interest in the card under Cox agreement.
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