Paul, Weiss Advises Advance in Charter Communications' $34.5 Billion Combination With Cox and Acquisition of Liberty Broadband

Paul, Weiss advised media conglomerate Advance Publications, Inc., a major shareholder in Charter Communications, Inc., in Charter’s combination with Cox Communications and acquisition of Liberty Broadband Corporation. Charter is a leading broadband connectivity company and cable operator with services available to more than 70 million homes and businesses across 45 states through its Spectrum brand. The Charter/Cox combination values Cox at an enterprise value of approximately $34.5 billion, creating a leading provider of broadband, mobile and video services. 
 
Upon closing of the transaction, Charter, Cox’s parent company and Advance entered into an amended stockholders’ agreement. Advance also retained its two board nominees. Within a year of the transaction, the combined company expects to change its parent company name to Cox Communications while continuing to operate under the Spectrum brand.

The Paul, Weiss team was led by partners Robert Schumer, Michael Vogel, Lara Solomons and Brian Krause, and included corporate partners Thomas de la Bastide, Manuel Frey, Christodoulos Kaoutzanis, Cullen Sinclair and Joseph Friedman; and antitrust partner Todd Hahn.