Charter/Cox Consider Cox the Buyer: Analyst

Cox Communications is actually purchasing Charter Communications, with Cox ownership engaged in a like-for-like swap of equity, receiving a one-time $4 billion cash payment, and getting a better mobile virtual network operator deal with Verizon, MoffettNathanson's Craig Moffett wrote investors Monday. Charter's acquisition, announced last month (see 2505160060), could also lead to Cox ownership eventually regaining majority control of the new Charter, which will change its name to Cox Communications, he said: "So, who sold to whom?" Privately held Cox doubling down on cable with the deal speaks to the promise of Charter's mobile-first strategy, Moffett said.