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Charter Communications’ $34.5 billion acquisition of Cox Enterprises’ assets, including managed IT and commercial fiber, has been approved.
By Brad Randall, Broadband Communities
The Wireline Competition Bureau at the Federal Communications Commission (FCC) has approved a $34.5 billion deal which will see Charter Communications acquire a wide range of assets from Cox Enterprises.
The deal, approved on Friday, includes Cox’s residential cable, commercial fiber, managed IT, and cloud businesses, according to the FCC.
FCC Chairman Brendan Carr said the approval “ensures big wins for Americans.”
Comments from Carr were included in the FCC’s announcement Friday.
“This deal means that jobs are coming back to America that had been shipped overseas,” he said. “It means that modern, high-speed networks will get built out in more communities across rural America. And it means that customers will get access to lower priced plans.”
Carr lauds deal as a win against DEI policies
Carr’s statements about the deal took aim at diversity, equity, and inclusion (DEI) policies, which he has lobbied against fiercely on the FCC.
“On top of this, the deal enshrines protections against DEI discrimination,” he stated.
According to the FCC, Charter implemented “new safeguards” to “protect against DEI discrimination,” the statement reported.
“Specifically, Charter commits to recruiting, hiring, and promoting individuals based on the factors that matter most: skills, qualifications, and experience,” the statement also read.
The recently approved deal was first announced back in May.
In the deal, Cox Enterprises contributes Cox Communications’ residential cable business to Charter Holdings, which is an existing subsidiary partnership of Charter, the company previously announced.
The FCC says Charter will ” invest billions of dollars to upgrade its network and deliver high-speed service to homes and businesses across the country” as a result of the deal.
“This means that Americans will see faster broadband and lower prices,” the FCC’s release stated. “Additionally, Charter’s Rural Construction Initiative is activating new services across rural states, which can bring better service and job opportunities to rural America.”
