Two of the largest cable companies in the US are intent on merging. Charter Communications’ proposed acquisition of Cox Communications — the largest division of Cox Enterprises — will value the former at over $34 billion inclusive of debt.

Charter agreed to acquire privately held Cox in a deal valued at $34.5 billion as cable companies confront multiple challenges.

Charter Communications is merging with Cox Communications in an approximately $34.5 billion deal that brings together two of the biggest cable companies in the country.