CHTR

California regulators have approved the $34.5-billion sale of Cox Communications to Charter Communications, clearing the final regulatory hurdle in the merger review process.

Comcast's plan to spin off NBCU reframes its cable/broadband rump as a pure-play infrastructure asset, not a media conglomerate. The market is mispricing this as a 'mixed media spinoff' story. History shows broadband infrastructure, once isolated from content drag, re-rates toward utility multiples. Long broadband-infrastructure beneficiaries.