American cable TV giants Charter Communications and Cox Communications will merge, with the latter valued at nearly $34.5 billion.

On May 16th, the two largest cable TV companies in the United States, Charter Communications and Cox Communications, announced that they had reached a final merger agreement. The proposed transaction values Cox Communications at approximately $34.5 billion. Within one year of the completion of the merger, the combined company will be renamed Cox Communications. The headquarters of the merged company will be located in Stamford, Connecticut, where Charter Communications is currently based, while maintaining a significant presence at Cox Communications' current headquarters in Atlanta, Georgia.