The FCC’s Wireline Competition Bureau has approved Charter Communications’ $34.5 billion acquisition of Cox Enterprises’ assets, including Cox’s residential cable, commercial fiber, managed IT, and cloud businesses.
Under the deal, Cox will contribute Cox Communications’ residential cable business to Charter Holdings, while Charter has pledged to invest billions to upgrade networks and expand high-speed service to homes and businesses nationwide, including a Rural Construction Initiative intended to extend service to rural areas.
FCC Chairman Brendan Carr welcomed the decision, saying the approval will deliver broad benefits to consumers, including faster broadband and more affordable plans, as well as creating jobs and spreading modern networks to rural communities.
In remarks accompanying the FCC’s release, Carr noted concerns around diversity, equity, and inclusion (DEI) policies; the agency said Charter added safeguards to protect against DEI discrimination and to recruit based on skills, qualifications, and experience.
The agreement, first announced in May, involves Cox transferring its residential cable assets to Charter, with the overall transaction expected to accelerate network upgrades nationwide and expand the company’s cloud and managed IT offerings.
