Charter Communications, one of the largest telecommunications companies in the United States, announced a merger Friday with privately held Cox Communications in a multi-billion-dollar deal. Once the merger is completed,

Charter and Cox are planning to merge in a deal worth $34.5 billion that will create an industry leader in mobile, broadband and video entertainment.

Charter Communications has agreed to buy privately held rival Cox Communications for $21.9 billion, uniting two of the largest cable and broadband operators in the United States as they battle streaming giants and mobile carriers for customers.