Charter Communications stockholders have approved the broadband and cable giant’s proposed acquisition of Cox Communications, bringing the deal a step closer.
The company said more than 99% of the votes cast at a special meeting of stockholders this morning were in favor of each of the proposals required to complete the transaction .
The deal announced in May is expected to close in mid-2026 pending regulatory approval. It’s a big one, valuing Cox at $35.4 billion.
Within a year after the closing, the combined company will change its name to Cox Communications. Spectrum will become the consumer-facing brand within the communities Cox serves. It will remain headquartered in Stamford, CT but maintain a significant presence on Cox’s Atlanta campus. Charter has said it expects about $500 million of annual cost savings within three years of close.
Charter shares are down 2%. They’ve been losing ground in recent months with investors skittish about the deal.
CEO Chris Winfrey defended the transaction during a conference call with analysts last week, saying the company has a “proven” history of successfully integrating large-scale companies it has acquired, among them Time Warner Cable. M&A has been part and parcel of the traditional cable business, with Malone one of its foremost practitioners.” The media billionaire John Malone’s Liberty Broadband owns 26% of Charter.
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