Cox Enterprises Suspends Participation in Charter Communications Share Repurchases

Summary of Filing

On September 30, 2026, Cox Enterprises, Inc. and its wholly owned subsidiary Cox Communications Equity Holdings, Inc. (CCEH) filed Amendment No. 1 to their Schedule 13D concerning Charter Communications, Inc. ($CHTR).

Key Disclosures

• Ownership Position: Cox Enterprises and CCEH beneficially own 46,153,885 shares of Class A Common Stock, representing 28.7% of the outstanding shares (calculated on an as-converted, as-exchanged basis against 114,437,206 outstanding Class A shares as of August 31, 2026).
  • This includes 33,586,045 Class C Common Units of Charter Communications Holdings, LLC and convertible preferred units with a $6.0 billion aggregate liquidation preference convertible at an initial price of ~$477.41 per unit.
• Suspension of Share Repurchases: On September 28, 2026, Cox Enterprises delivered a Suspension Notice to Charter pursuant to the Repurchase Letter Agreement dated August 19, 2026.
  • Under the Repurchase Letter Agreement, Cox had agreed to participate pro rata in Charter's ongoing monthly share repurchases.
  • By delivering the Suspension Notice, Cox elected to cease selling shares or Class C units in connection with Charter's repurchase program until the notice is formally revoked in writing.

Market & Strategic Implications

• Buyback Dynamics: Because Cox will no longer participate pro rata in Charter's buybacks, any future repurchases executed by Charter from public shareholders will naturally increase Cox's relative percentage ownership over time, unless Cox resumes participation.
• Significance: Rated Medium. While not an immediate market trade, halting participation in repurchases signals Cox's intent to retain its equity stake rather than monetizing through company buyback programs.