Charter Launches New Operating Model; Unveils $2B In Annualized Expense Savings Plan, In Addition To $1B+ In Planned Cox Transactions Synergies

New Operating Model Centered on Growth and Efficiency

Charter is reformulating its go-to-market approach for its core Internet offering, marketing and distribution, and will further leverage its differentiated mobile and video products to drive growth and provide greater value for customers. This new operating model is focused on accelerating new customer connects as well as improving retention and customer satisfaction with improved execution of its service delivery. By delivering added value and improving its service reputation, Charter will deepen customer relationships and maximize revenue per passing over the long term.

In parallel, Charter is undertaking a fundamental redesign of how it operates, reducing complexity, accelerating decision-making and focusing resources on the activities that contribute most directly to growth and stronger performance. As part of this transformation, the Company is targeting $2 billion in annualized run-rate operating expense savings over the next 18 months, in addition to more than $1 billion in anticipated Cox Transactions synergies.

The savings program will focus on eliminating nonessential activities, simplifying organizational structures and driving greater efficiencies through vendor partnerships. Together, these initiatives are expected to strengthen Charter's competitive position, drive improved financial performance and support significantly higher free cash flow generation over time.

Cox Transactions Completed, Adding Significant Opportunity for Charter's Growth

On August 19, 2026, Charter completed its transactions between the Company and Cox Communications, Inc. ("Cox Communications") (the "Cox Transactions"). The Cox Transactions added more than 11 million passings and over 5 million customer relationships, making Charter the nation's leading Internet and video provider. The acquisition expands Charter's presence in attractive, high-growth markets, including Phoenix and Las Vegas, and complementary markets across the country, creating significant opportunities to increase residential and small business customer penetration.

In this release, actual results reflect the operations of Charter for the three and nine months ended September 30, 2026 and Cox Communications for the period from August 20, 2026 through September 30, 2026.
Pro forma results present the Cox Transactions as if they had closed on January 1, 2024 and include the operations of Charter and Cox Communications for the full three and nine months ended September 30, 2026. 
On September 16, 2026, Charter launched Spectrum's products, pricing and packaging across the legacy Cox footprint, bringing its Internet, mobile and video offerings to more than 11 million homes and businesses. Since launch, Charter has seen strong demand from consumers and an improvement in customer trends across the legacy Cox footprint.