FCC Approves Charter's Landmark Acquisition of Cox

The FCC has greenlit Charter Communications' $34.5 billion acquisition of Cox Communications, creating America's largest cable and broadband provider with 38 million subscribers. Charter is set to enhance network infrastructure and onshore jobs, extending a minimum $20/hour wage to Cox's workforce.

The Federal Communications Commission has approved Charter Communications' substantial $34.5 billion acquisition of Cox Communications, marking a pivotal shift in the U.S. cable and broadband sector.

The merger combines two industry giants to better compete against streaming platforms and mobile networks. Charter, the parent company of Spectrum, has pledged to invest billions in upgrading network infrastructure and offering high-speed services. The company has also committed to bringing jobs back to the U.S. and extending its minimum wage of $20 per hour to current Cox employees.

Upon completion of the deal, Charter will become the largest cable TV and broadband provider in the U.S., amassing about 38 million subscribers and overtaking current leader, Comcast, in market domination.

(With inputs from agencies.)