STAMFORD — Charter Communications has acquired Cox Communications and Liberty Broadband.

The deals, announced Thursday, bring Cox's markets under the Spectrum brand, with Charter now serving customers across 45 states.

As part of the Cox transaction, a subsidiary of Cox Enterprises received approximately 33.6 million common units in Charter's existing partnership with an implied value of approximately $5 billion. It also received $6 billion of convertible preferred units and approximately $4 billion in cash.

Cox Enterprises and its subsidiaries now own approximately 26 percent of the combined entity's fully diluted shares outstanding. Approximately $12 billion of Cox debt and finance leases will remain outstanding at Charter's subsidiaries as a result of the transaction.

On the Liberty Broadband side, each holder of Liberty Broadband common stock received 0.236 of a share of Charter common stock per share held. Charter retired approximately 38.6 million Charter shares previously owned by Liberty Broadband and issued approximately 33.9 million shares to Liberty Broadband common stockholders, resulting in a net decrease of approximately 4.7 million Charter shares outstanding.

Charter also assumed approximately $840 million of Liberty Broadband net debt, which will be repaid shortly after closing, and $180 million of preferred equity.

Spectrum said it is offering Cox internet customers who don't already subscribe to Cox Mobile a free mobile line for one year. In mid-September, Spectrum plans to launch its full suite of products in former Cox markets, including its pricing and packaging options.

Cox said its customers will also gain access to Spectrum's customer service commitments within the next year, including a U.S.-based 24/7 customer service team, same-day technician dispatch for service disruptions when requested before 5 p.m. and credits for outages lasting more than two hours.

Over the next 18 months, Spectrum will apply its workforce model to Cox markets and fully return Cox's customer service function to the U.S. All employees will earn a starting wage of at least $20 per hour.

Within a year following the transaction, the company's parent name will change to Cox Communications, though it will continue to operate as Spectrum across all markets. The company will remain headquartered in Stamford, CT, with a significant presence in Atlanta, GA.