The California Public Utilities Commission unanimously approved Charter Communications’ $21.9 billion acquisition of Cox Communications. This vote represents the final regulatory hurdle following federal and multi-state clearances.
The merger creates the largest internet service provider in the United States by subscriber base. Charter committed to investing $275 million in network upgrades across California to secure the deal.
The company will offer a $20 monthly broadband plan to eligible low-income households. This discounted rate is guaranteed for five years. Charter is also contributing $30 million to a state fund for broadband adoption and digital literacy.