−Removed: We are a leading broadband connectivity company and cable operator with services available to an estimated 57 million homes and businesses in 41 states through our Spectrum ® brand.
−Removed: Over an advanced communications network, we offer a full range of state-of-the-art residential and business services including Spectrum Internet ® , TV, Mobile and Voice.
−Removed: For small and medium-sized companies, Spectrum Business ® delivers the same suite of broadband products and services coupled with special features and applications to enhance productivity, while for larger businesses and government entities, Spectrum Enterprise ® provides highly customized, fiber-based solutions.
−Removed: Spectrum Reach ® delivers tailored advertising and production for the modern media landscape.
−Removed: We also distribute award-winning news coverage and sports programming to our customers through Spectrum Networks.
−Removed: Our strategy is focused on utilizing our high bandwidth connectivity network to deliver high-quality, competitively priced products, with outstanding service, allowing us to increase both the number of customers we serve over our network and the number of products we sell to each customer.
−Removed: This combination also reduces the number of service transactions we perform per relationship, yielding higher customer satisfaction and lower customer churn, which results in lower costs to acquire and serve customers and greater profitability.
−Removed: We continue to evolve our connectivity network to offer symmetrical and multi-gigabit Internet speeds across our entire footprint and have launched symmetrical Internet service in eight markets and 2x1 Gbps service in two markets.
−Removed: Advanced WiFi, a managed WiFi service that provides customers an optimized home network while providing greater control of connected devices with enhanced security and privacy, is available to all Internet customers.
−Removed: Spectrum Mobile ® is available to all new and existing Internet customers and offers plans that include 5G access, do not require contracts and include taxes and fees in the price.
−Removed: We continue to innovate our video product and recently transformed all of our affiliation agreements with major programmers.
−Removed: These new agreements give us greater overall packaging flexibility and the ability to include the ad-supported versions of key programmer streaming applications within our video packages along with the ability to upgrade to ad-free versions and to sell those applications to customers a la carte for a seamless entertainment experience.
+Added: We are a leading broadband connectivity company with services available to 58 million homes and small to large businesses across 41 states through our Spectrum ® brand.
+Added: Founded in 1993, we have evolved from providing cable TV to streaming, and from high-speed Internet to a converged broadband, WiFi and mobile experience.
+Added: Over the Spectrum Fiber Broadband Network and supported by our 100% U.S.-based employees, we offer Seamless Connectivity and Entertainment with Spectrum Internet ® , Mobile, TV and Voice products.
+Added: Our strategy is focused on utilizing our fiber-powered network to deliver high-quality, competitively priced products, with outstanding service, allowing us to increase both the number of customers we serve over our network and the number of products we sell to each customer.
+Added: This combination also reduces the number of service transactions we perform per relationship, yielding higher customer satisfaction and lower customer churn, which results in lower costs to acquire and serve customers and drives greater profitability.
+Added: We offer Spectrum Internet products with speeds up to 1 gigabits per second (“Gbps”) across our entire footprint and multi-gigabit speeds in a portion of our footprint.
+Added: We continue to upgrade our connectivity network, and we will offer symmetrical and multi-gigabit Internet speeds across our entire footprint in the next several years.
+Added: Advanced WiFi, a managed WiFi service that provides customers an optimized home network while providing greater control of connected devices with enhanced security and privacy, is available to all of our Internet customers.
+Added: Spectrum Mobile ® is available to all new and existing Spectrum Internet customers and offers plans that include 5G access, do not require contracts and include taxes and fees in the price.
+Added: We continue to innovate our video product and have transformed all of our affiliation agreements with major programmers.
+Added: These new agreements give us greater overall packaging flexibility and the ability to include the ad-supported versions of key programmer streaming applications, at no extra cost, within our video packages, along with the ability to upgrade to ad-free versions and to sell those applications to customers a la carte for a seamless entertainment experience.
Together with our Xumo Stream Boxes (“Xumo”), our goal is to deliver utility and value for our customers, irrespective of how they want to view content, and better and more stable economics for our programming partners and us.
Pricing & Packaging and Customer Commitments
−Removed: Our fully deployed high-bandwidth network offers ubiquitous and seamless connectivity products.
−Removed: It removes barriers and creates opportunities for customers, in every aspect of their lives, which led us to our new brand platform, Life Unlimited ™ .
−Removed: As part of the new brand platform, which we launched in the fall of 2024, we also launched a new, simplified pricing strategy that better utilizes our seamless connectivity and entertainment products to offer lower promotional and persistent bundled pricing to drive customer and financial growth.
−Removed: Additionally, we announced new customer commitments, focused on reliable connectivity, transparency, exceptional service and a focus on always improving.
+Added: Our fully deployed fiber-powered network offers ubiquitous and seamless connectivity products.
+Added: It removes barriers and creates opportunities for customers, in every aspect of their lives.
+Added: Our brand platform, Life Unlimited ™ , emphasizes the power of our advanced network and cutting-edge connectivity products and services, and our simplified pricing strategy better utilizes our seamless connectivity and entertainment products to offer lower promotional and persistent bundled pricing to drive growth.
+Added: Additionally, our customer commitments focus on reliable connectivity, transparency, exceptional service and always improving.
Through reliable connectivity, we are committed to keeping our customers connected 100% of the time and promptly resolving issues.
−Removed: Transparency at every step means we are committed to clear and simple pricing and timely service updates, and we will take responsibility when things go wrong.
−Removed: Through exceptional service, we are committed to providing exceptional customer experiences.
+Added: Transparency at every step means we provide clear and simple pricing and timely service updates, and we take responsibility when things go wrong.
+Added: Through exceptional service, we provide exceptional customer experiences.
And finally, always improving means we act on our customers' feedback to improve our products and customer service.
Network Evolution
−Removed: Our network and product evolution plan continues to progress, with a clear path to delivering symmetrical and multi-gig speeds to our customers across our footprint, meeting the needs of today and anticipating the growing demand for faster speeds for years to come.
−Removed: We continue to expand the capacity of our hybrid fiber coaxial network using a number of technologies, including spectrum expansion, initially to 1.2 GHz and then to 1.8 GHz, changing the bandwidth allocation to a "high split" to increase upstream speeds, Distributed Access Architecture ("DAA") and DOCSIS 4.0 technology.
−Removed: Through this process, which we expect to complete in 2027, we will transform our network to enable multi-gigabit data speeds to customers.
−Removed: Those faster speeds will be offered in conjunction with our Spectrum Mobile product and Advanced WiFi, providing customers seamless and convenient, ultra-fast converged connectivity in attractively priced packages.
−Removed: Since inception in the beginning of 2022, we have spent $5.5 billion on our subsidized rural construction initiative and activated approximately 813,000 passings.
−Removed: Rural builds present strategic footprint expansion opportunities to unserved and underserved passings.
−Removed: Our rural investments will allow us to offer a suite of broadband connectivity services, including fixed Internet, WiFi and mobile to unserved areas in states where we currently operate.
−Removed: To accomplish all of this, we have invested in new teams, new training and new equipment.
+Added: Our network and product evolution plan continues to progress, with a clear path to delivering symmetrical and multi-gig speeds to customers across our footprint, meeting the needs of today and anticipating the growing demand for faster speeds for years to come.
+Added: We continue to expand the capacity of our fiber-powered network using a number of technologies, including
+Added: • spectrum expansion, initially to 1.2 GHz and then to 1.8 GHz;
+Added: • changing the bandwidth allocation to a "high split" to increase upstream speeds;
+Added: • Distributed Access Architecture ("DAA");
+Added: • DOCSIS 4.0 technology.
+Added: Through this process, which we expect to be largely complete by the end of 2027, we will transform our network to offer much faster Internet speeds.
+Added: Those faster Internet speeds will be offered in conjunction with our Spectrum Mobile product and
+Added: Advanced WiFi, providing customers seamless and convenient, ultra-fast converged connectivity in attractively priced packages.
+Added: Since inception in the beginning of 2022, we have spent $7.7 billion on our subsidized rural construction initiative and activated approximately 1.3 million passings.
+Added: Rural footprint builds present strategic network expansion opportunities to deliver service to unserved and underserved passings.
+Added: Our rural investments allow us to offer a suite of broadband connectivity services, including fixed Internet, WiFi and mobile to unserved areas in states where we currently operate.
+Added: To accomplish all of this, we have invested in new construction teams and new equipment.
These investments will allow us to generate long-term infrastructure-style returns by taking further advantage of our scale efficiencies, network quality and construction capabilities, while offering our high-quality products and services to more homes and businesses.
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Products and Services
−Removed: We offer our customers subscription-based Internet, video, mobile and voice services, with prices and related charges based on the types of service selected, whether the services are sold as a “bundle” or on an individual basis, and based on the equipment necessary to receive our services.
−Removed: Bundled services, including some combination of our Internet, video, mobile and/or voice products are available to substantially all of our passings.
−Removed: The following table summarizes our customer statistics for Internet, video, mobile and voice as of December 31, 2024 and 2023 (in thousands except per customer data and footnotes).
+Added: We offer our customers subscription-based Internet, mobile, video and voice services, with prices and related charges based on the types of service selected, whether the services are sold as a “bundle” or on an individual basis, and based on the equipment necessary to receive our services.
+Added: Bundled services, including some combination of our Internet, mobile, video and/or voice products are available to substantially all of our passings.
+Added: To better reflect the converged and integrated nature of our business and operations, in the fourth quarter of 2025, we revised our customer relationship statistics to include all mobile customers, including mobile-only customers, and have added information on total connectivity customers, which represent all customers receiving our Internet and/or mobile connectivity services.
+Added: In addition, in the fourth quarter of 2025, certain reporting policies related to mobile lines were revised to better align with other Charter services.
+Added: Other minor changes were made to small business Internet customers and mid-market & large business primary service units (“PSUs”) to standardize reporting methodologies.
+Added: Prior periods have been revised accordingly.
+Added: The following table summarizes our customer statistics for connectivity, Internet, mobile, video and voice as of December 31, 2025 and 2024 (in thousands except per customer data and footnotes).
Approximate as of
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Residential 29,609 29,964
−Removed: Small and Medium Business ("SMB") 2,215 2,222
+Added: Small Business 2,237 2,250
Total Customer Relationships 31,846 32,214
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$ 119.05 $ 118.71
−Removed: Monthly SMB Revenue per SMB Customer (d)
+Added: Monthly Small Business Revenue per Small Business Customer (d)
$ 161.50 $ 161.97
Residential 28,563 28,763
−Removed: SMB 2,046 2,044
−Removed: Total Internet Customers 30,080 30,588
+Added: Small Business 2,077 2,082
+Added: Total Connectivity Customers 30,640 30,845
Residential 27,641 28,034
−Removed: Total Video Customers 12,892 14,122
+Added: Small Business 2,039 2,049
+Added: Total Internet Customers 29,680 30,083
Mobile Lines (e)
Residential 11,370 9,543
+Added: Small Business 396 315
Total Mobile Lines 11,766 9,858
Residential 12,072 12,327
−Removed: SMB 1,248 1,293
+Added: Small Business 533 565
+Added: Total Video Customers 12,605 12,892
+Added: Residential 4,832 5,636
+Added: Small Business 1,214 1,248
Total Voice Customers 6,046 6,884
−Removed: Enterprise Primary Service Units ("PSUs") (f)
+Added: Mid-Market & Large Business PSUs (f)
(a) We calculate the aging of customer accounts based on the monthly billing cycle for each account in accordance with our collection policies.
On that basis, as of December 31, 2025 and 2024, customers include approximately 82,300 and 102,500 customers, respectively, whose accounts were over 60 days past due, approximately 9,700 and 12,100 customers, respectively, whose accounts were over 90 days past due, and approximately 13,600 and 13,600 customers, respectively, whose accounts were over 120 days past due.
−Removed: The decrease in accounts past due is predominately due to revisions to customer account balances associated with the end of the Federal Communications Commission's (“FCC”) Affordable Connectivity Program ("ACP"), including balance write-offs and conversion to payment plans.
−Removed: (b) Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, video, mobile and voice services, without regard to which service(s) such customers receive.
+Added: (b) Customer relationships include the number of customers that receive one or more levels of service, encompassing Internet, mobile, video and voice services, without regard to which service(s) such customers receive.
Customers who reside in residential multiple dwelling units (“MDUs”) and that are billed under bulk contracts are counted based on the number of billed units within each bulk MDU.
−Removed: Total customer relationships exclude enterprise and mobile-only customer relationships.
−Removed: (c) Monthly residential revenue per residential customer is calculated as total residential annual revenue divided by twelve divided by average residential customer relationships during the respective year and excludes mobile-only customers.
−Removed: (d) Monthly SMB revenue per SMB customer is calculated as total SMB annual revenue divided by twelve divided by average SMB customer relationships during the respective year and excludes mobile-only customers.
+Added: Total customer relationships exclude mid-market & large business customer relationships.
+Added: (c) Monthly residential revenue per residential customer is calculated as total residential annual revenue divided by twelve divided by average residential customer relationships during the respective year.
+Added: (d) Monthly small business revenue per small business customer is calculated as total small business annual revenue divided by twelve divided by average small business customer relationships during the respective year.
(e) Mobile lines include phones and tablets which require one of our standard rate plans (e.g., "Unlimited" or "By the Gig").
Mobile lines exclude wearables and other devices that do not require standard phone rate plans.
−Removed: (f) Enterprise PSUs represent the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.
+Added: (f) Mid-market & large business PSUs represent the aggregate number of fiber service offerings counting each separate service offering at each customer location as an individual PSU.
Residential Services
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We provide our customers with a suite of broadband connectivity services, including fixed Internet, WiFi and mobile, which when bundled together provides our customers with a differentiated converged connectivity experience while saving consumers money.
−Removed: We offer Spectrum Internet products with speeds up to 1 Gbps across our entire footprint.
−Removed: Spectrum Internet bundled with our in-home Advanced WiFi allows multiple people within a single household to stream high definition (“HD”) video content while simultaneously using our Internet service for other purposes including two-way video conferencing, gaming and virtual reality, among other things.
+Added: We offer Spectrum Internet products with speeds up to 1 Gbps across our entire footprint and multi-gigabit speeds in a portion of our footprint.
+Added: We continue to upgrade our connectivity network, and we will offer symmetrical and multi-gigabit Internet speeds across our entire footprint in the next several years.
+Added: Spectrum Internet bundled with our in-home Advanced WiFi allows multiple people within a single household to stream high definition 4K video content while simultaneously using our Internet service for other purposes including two-way video conferencing, gaming and virtual reality, among other things.
Our in-home WiFi product provides our Internet customers with high performance wireless routers and a managed WiFi service to maximize their wireless Internet experience.
−Removed: We offer Advanced WiFi service across all of our footprint along with WiFi 6E routers capable of delivering speeds over 2 Gbps.
−Removed: In 2024, we began offering WiFi 7 routers capable of delivering speeds over 10 Gbps.
+Added: We offer Advanced WiFi service across all of our footprint along with WiFi 7 routers capable of delivering multi-gigabit speeds wirelessly.
With Advanced WiFi, customers enjoy a cloud-optimized WiFi connection and have the ability to view and control their WiFi network through our Spectrum app (“My Spectrum® App”).
The service enables parental control schedules and Spectrum Security Shield which is automatically enabled and protects all devices in the home using network-based security.
−Removed: Customers also have the option to add Spectrum WiFi pods to Advanced WiFi.
−Removed: WiFi pods are small, discreet access points that plug into electrical outlets in the home, providing broader and more consistent WiFi coverage.
+Added: In early 2026, we will launch our Invincible WiFi™ product, a tri-band advanced WiFi 7 router that integrates 5G cellular and battery backup to keep customers seamlessly and fully connected during service disruption or a power outage.
+Added: Customers also have the option to add Spectrum WiFi extenders to Advanced WiFi and we recently launched WiFi 7 extenders that enable multi-gigabit speeds to reach larger spaces.
We also offer the capabilities of the Advanced WiFi service to MDUs as Advanced Community WiFi (“ACW”).
With ACW, tenants receive the same visibility and control over their apartment’s WiFi networks through the My Spectrum App, while building managers are able to see and manage the entire building’s network through a purpose-built property service portal.
−Removed: In 2024, we began offering to MDUs and bulk single-family communities Spectrum Ready, which allows customers to set up Spectrum Internet with Advanced WiFi and video services in their home without ordering equipment or scheduling installation through permanent WiFi routers already installed in the property.
+Added: We also offer Spectrum Ready pre-installed connectivity services to MDUs and single-family communities, which allows customers to set up Spectrum Internet with Advanced WiFi and video services in their home without ordering equipment or scheduling installation through permanent WiFi routers already installed in the property.
New residents simply scan a QR code and confirm services through a new or existing Spectrum account.
−Removed: Our Spectrum Mobile service is offered to customers subscribing to our Internet service and uses the customers’ private WiFi, our Spectrum Mobile network (comprised of out-of-home WiFi access points across our footprint combined with out-of-home WiFi access points from other networks with which we partner) as well as leveraging the cellular network of Verizon Communications Inc.
−Removed: We leverage the Verizon cellular network to provide nationwide coverage including unlimited calls, text and data using Verizon’s fourth generation and fifth generation (“5G”) service including their 5G ultra-wide band services.
+Added: Our Spectrum Mobile service is offered to customers subscribing to our Internet service and uses the customers’ private WiFi, our Spectrum Mobile network (comprised of 49 million out-of-home WiFi access points across our footprint combined with out-of-home WiFi access points from other networks with which we partner) as well as leveraging the cellular network of Verizon Communications Inc.
+Added: We leverage the Verizon cellular network to provide nationwide coverage including unlimited calls, text and data using Verizon’s fourth generation and fifth generation (“5G”) service including their latest 5G technology.
Spectrum Mobile also uses Verizon’s international roaming partner network to ensure customers have coverage around the globe.
−Removed: Customers can use their Spectrum Mobile device to connect to their Spectrum WiFi, which increases speeds and provides a superior experience while in the home and on-the-go via the Spectrum Mobile network.
−Removed: In addition, we continue to focus on improving the customer experience and integrating our mobile and fixed Internet products with enhancements such as Spectrum Mobile Speed Boost (“Speed Boost”).
+Added: In addition, in July 2025, we entered into a multi-year agreement with T-Mobile US, Inc.
+Added: (“T-Mobile”) to use their network to deliver mobile services to Spectrum Business customers which is set to launch in 2026.
+Added: We continue to improve the customer experience and integrate our mobile and fixed Internet products with enhancements such as Spectrum Mobile Speed Boost (“Speed Boost”).
Customers are eligible for Speed Boost if they have both Spectrum Mobile and Spectrum Internet, a DOCSIS 3.1 modem and an Advanced WiFi router.
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Our voice services include unlimited local and long distance calling to the United States, Canada, Mexico and Puerto Rico, voicemail, call waiting, caller ID, call forwarding and other features and offers international calling either by the minute, or through packages of minutes per month.
−Removed: We also offer Call Guard, an advanced caller ID and robocall blocking solution, for our residential and SMB voice customers.
−Removed: Call Guard reduces customer frustration and improves security by blocking malicious calls while ensuring our customers continue to receive the legitimate automated calls they need from schools or healthcare providers.
+Added: We also offer Call Guard, an advanced caller ID and robocall blocking solution, for our residential and small business voice customers.
+Added: Call Guard reduces customer frustration and
+Added: improves security by blocking malicious calls while ensuring our customers continue to receive the legitimate automated calls they need from schools or healthcare providers.
Video Services
−Removed: We provide our customers with a choice of video programming services on a variety of platforms including through a digital Spectrum Receiver or an Internet Protocol ("IP") device.
−Removed: Video customers have access to a variety of programming packages with approximately 375 channels available in home and out of home allowing our customers to access the programming they want, when they want it, on any device.
−Removed: In 2024, we began offering certain seamless entertainment applications including, among others, Max, Disney+, ESPN+, Paramount+, ViX Premium and Tennis Channel Plus to customers in certain packages and reached agreements with several other programmers that will add Discovery+, Peacock, AMC+ and BET+ in certain packages in 2025.
−Removed: We now have completed deals with every major programmer to deliver better flexibility and greater value to our customers by including seamless entertainment applications with our Spectrum TV ® services at no additional cost.
+Added: We provide our customers with a choice of video programming services on a variety of platforms and through a variety of programming packages with approximately 375 channels available in home and out of home allowing our customers to access the programming they want, when they want it, on any device.
+Added: We have completed deals with major programmers to deliver better flexibility and greater value to our customers by including seamless entertainment applications with certain of our Spectrum TV packages at no additional cost.
+Added: In July 2025, we began launching the sale of these seamless entertainment applications to customers on an à la carte basis and in October 2025, launched the Spectrum App Store, a digital storefront that helps customers activate, upgrade, buy and manage their streaming applications in one place.
+Added: We deploy our Xumo stream boxes to new video customers.
+Added: Xumo combines a live TV experience with access to hundreds of content applications and features unified search and discovery along with a curated content offering based on the customer's interests and subscriptions.
+Added: Combined with our Spectrum TV app, Xumo is now our preferred go-to-market platform for new video sales.
+Added: Customers are increasingly accessing their subscription video content through our highly rated Spectrum TV app via mobile devices and connected Internet Protocol (“IP”) devices, such as Xumo, Apple TV, Roku, Vizio, LG and Samsung TV.
+Added: Access to the Spectrum TV app is included in all Spectrum TV video plans.
+Added: The Spectrum TV app allows users to stream content across a growing number of platforms as well as access their full TV lineup and watch on demand content.
+Added: It also supports DVR functionality through our cloud DVR offering.
Our video service also includes access to an interactive programming guide with parental controls, video on demand (“VOD”) and pay-per-view services.
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Pay-per-view channels allow customers with a set-top box to pay on a per-event basis to view a single showing of a one-time special sporting event, music concert, or similar event on a commercial-free basis.
−Removed: We also offer digital video recorder (“DVR”) service that enables customers to digitally record programming and to pause and rewind live programming on set-top boxes.
+Added: We also offer digital video recorder (“DVR”) service that enables customers to digitally record programming and to pause and rewind live programming.
Our cloud DVR service allows customers to schedule, record and watch their favorite programming anytime from the Spectrum TV app as well as SpectrumTV.com.
−Removed: We continue to deploy our Xumo stream boxes to new video customers.
−Removed: Xumo combines a live TV experience with access to hundreds of content applications and features unified search and discovery along with a curated content offering based on the customer's interests and subscriptions.
−Removed: Combined with our Spectrum TV app, Xumo is now our preferred go-to-market platform for new video sales.
−Removed: Customers are increasingly accessing their subscription video content through our highly rated Spectrum TV app via mobile devices and connected IP devices, such as Xumo, Apple TV, Roku and Samsung TV.
−Removed: Access to the Spectrum TV app is included in all Spectrum TV video plans.
−Removed: The Spectrum TV app allows users to stream content across a growing number of platforms as well as access their full TV lineup and watch on demand content.
−Removed: It also supports DVR functionality through our cloud DVR offering.
Commercial Services
We offer scalable broadband communications solutions for businesses and carrier organizations of all sizes, selling Internet access, data networking, fiber connectivity to cellular towers and office buildings, video entertainment services and business telephone services.
−Removed: Small and Medium Business
−Removed: Spectrum Business offers Internet, video, mobile and voice services to SMBs over our hybrid fiber coaxial network.
−Removed: We also offer Advanced WiFi service to SMBs, which leverages the residential platform features, including Security Shield, with features specific to small and medium-size business such as a guest service set identifier (“SSID”).
+Added: Small Business
+Added: Spectrum Business offers Internet, mobile, video and voice services to small businesses over our fiber-powered network.
+Added: We also offer Advanced WiFi service to small businesses, which leverages the residential platform features, including Security Shield, with features specific to businesses such as a guest network through a service set identifier (“SSID”).
Spectrum Business includes a full range of video programming and offers Internet speeds up to 1 Gbps across our entire footprint.
Spectrum Business also includes a set of business services including static IP and business WiFi, e-mail and security, and voice services through either a traditional voice offering or hosted voice solution.
−Removed: Spectrum Business Connect is an SMB communications solution that includes Spectrum Internet, voice and complementary mobility features allowing our customers’ remote and office employees to stay more easily connected regardless of their location.
−Removed: We also offer Wireless Internet Backup to our SMB customers which is designed to enhance and protect Internet service for SMBs in the event of a network disruption.
−Removed: Spectrum Enterprise offers tailored connectivity, communications and managed service solutions over a high-capacity last-mile network with speeds up to 100 Gbps to larger businesses and government entities (local, state and federal), in addition to wholesale services to mobile and wireline carriers.
−Removed: The Spectrum Enterprise product portfolio includes connectivity services such as Internet Access (fiber, coax and wireless delivered);
+Added: Spectrum Business Connect is a small business communications solution that includes Spectrum Internet, voice and complementary mobility features allowing our customers’ remote and office employees to stay more easily connected regardless of their location.
+Added: We also offer Wireless Internet Backup to our small business customers which is designed to enhance and protect Internet service for small businesses in the event of a network disruption.
+Added: Mid-Market & Large Business
+Added: Spectrum Business for mid-market & large businesses offers tailored connectivity, communications and managed service solutions over a high-capacity last-mile network with speeds up to 100 Gbps to large businesses and government entities (local, state and federal), in addition to wholesale services to mobile and wireline carriers.
+Added: The Spectrum Business product portfolio
+Added: for mid-market & large businesses includes connectivity services such as Internet Access (fiber, coax and wireless delivered);
Wide Area Network (“WAN”) services (Ethernet, Software Defined (“SD”)-WAN and cloud connectivity) that privately and securely connect geographically dispersed customer locations and cloud service providers;
and Managed Service solutions which address a wide range of enterprise networking (e.g.
−Removed: Local Area Network (“LAN”), WiFi) and security (e.g.
+Added: routing, Local Area Network (“LAN”), WiFi) and security (e.g.
firewall, Distributed Denial of Service (“DDoS”) protection) challenges.
−Removed: To meet the communications needs of these more sophisticated customers, Spectrum Enterprise also offers an array of voice trunking services and unified messaging, communications and collaboration products.
+Added: To meet the communications needs of these more sophisticated customers, Spectrum Business also offers an array of voice trunking services and unified messaging, communications and collaboration products.
We offer Unified Communications services integrated with our connectivity and managed services to give customers more choices for enhancing their digital experience across locations and devices.
−Removed: In addition, Spectrum Enterprise offers a wide range of video solutions targeting unique needs of customers across multiple industries with a specific focus on hospitality, healthcare, government and education.
−Removed: Spectrum Enterprise serves businesses nationally by combining its large serviceable footprint with a robust portfolio of fiber lit buildings and a significant wholesale partner network.
+Added: In addition, Spectrum Business offers a wide range of video solutions targeting unique needs of customers across multiple industries with a specific focus on hospitality, healthcare, government and education.
+Added: Spectrum Business serves mid-market & large businesses nationally by combining its large serviceable footprint with a robust portfolio of fiber lit buildings and a significant wholesale partner network.
As a result, these customers benefit by obtaining advanced solutions from a single provider who is committed to an exceptional customer experience and who delivers compelling value by simplifying procurement and offering competitive pricing potentially reducing our customers' costs.
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We receive revenues from the sale of local advertising across various platforms for networks such as TBS, CNN and ESPN.
−Removed: We insert local advertising on up to 100 channels in over 90 markets and on multiple streaming services/free advertising-supported streaming television (“FAST”) channels including Amazon, Xumo and others.
+Added: We insert local advertising on up to 100 channels in over 90 markets and on multiple streaming services and free advertising-supported streaming television (“FAST”) channels including Amazon, Xumo and others.
Our large footprint provides opportunities for advertising customers to address broader regional audiences from a single provider and thus reach more customers with a single transaction.
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AMC, Univision) to deploy household addressability on their own inventory in our footprint, charging them an enablement fee.
−Removed: Our fully deployed Audience App, which uses our proprietary set-top box viewership data (all anonymized and aggregated), allows us to create data-driven linear TV campaigns for local advertisers.
+Added: We have a proprietary platform that uses set-top box viewership data (all anonymized and aggregated) to create data-driven linear TV campaigns for local advertisers.
Spectrum Reach also offers a programmatic sales platform allowing advertising agencies and advertisers to buy inventory in a fully automated way.
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American Media Productions, LLC ("American Media Productions"), an unaffiliated third party, owns SportsNet LA, a regional sports network carrying the Los Angeles Dodgers’ baseball games and other sports programming.
−Removed: In accordance with agreements with American Media Productions, we act as the network’s exclusive affiliate and advertising sales representative and have certain branding and programming rights with respect to the network.
+Added: In accordance with agreements with American Media
+Added: Productions, we act as the network’s exclusive affiliate and advertising sales representative and have certain branding and programming rights with respect to the network.
In addition, we provide certain production and technical services to American Media Productions.
The affiliate, advertising, production and programming agreements continue through 2038.
−Removed: 26.8% of Sterling Entertainment Enterprises, LLC (doing business as SportsNet New York), a New York City-based regional sports network that carries New York Mets’ baseball games as well as other regional sports programming.
+Added: We also own 35.0% of Sterling Entertainment Enterprises, LLC (doing business as SportsNet New York), a New York City-based regional sports network that carries New York Mets’ baseball games as well as other regional sports programming.
News Channels
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Customers can also read, watch and listen to news stories by our Spectrum News journalists and local partner publications on their mobile device on our Spectrum News application and certain smart TVs and streaming devices.
+Added: In 2025, we entered into an agreement with Comcast to expand distribution of Spectrum News to their video customers in California, Connecticut, northern New Jersey, Orlando and Tampa.
Community Solutions
−Removed: Spectrum Community Solutions ® (“SCS”) delivers broadband connectivity solutions to apartments, single-family gated communities, off-campus student housing, senior residences and RV parks and marinas.
−Removed: Services offered by SCS include Internet speeds up to 2 Gbps, property-wide managed WiFi coverage, Spectrum Ready service and traditional and streaming video packages, as well as customized fiber and coaxial solutions for new construction and established communities.
+Added: Spectrum Community Solutions ® (“SCS”) delivers broadband connectivity solutions to apartments, single-family gated communities, off-campus student housing, senior residences and RV parks.
+Added: Services offered by SCS include Internet speeds up to 2 Gbps, property-wide WiFi coverage, Spectrum Ready pre-installed connectivity services and traditional or streaming video packages.
+Added: SCS delivers these services to our properties via our fiber-powered network and through either bulk or retail marketing and right-of-entry agreements.
+Added: Our SCS bulk customers are serviced by dedicated contact centers.
SCS also manages our relationships with third-party resellers of Spectrum services to MDUs.
−Removed: In addition, SCS is responsible for our non-bulk MDU salesforce covering sales within existing, serviceable MDU properties.
−Removed: Our SCS bulk customers are serviced by dedicated call centers.
Pricing of Our Products and Services
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Both are low cost and include a modem for no additional charge.
−Removed: In 2024, we introduced new bundles that better utilize our unique product assets with guaranteed pricing for up to three years and speed options that will benefit new customers, create more choices and provide faster speeds for existing customers.
−Removed: For customers who don’t take advantage of these new bundled rates, our Spectrum One ™ offering provides a differentiated connectivity experience by bringing together Spectrum Internet, Advanced WiFi and Unlimited Spectrum Mobile to offer consumers fast, reliable and secure online connections on their favorite devices at home and on-the-go in a high-value package.
+Added: Our bundle options utilize our unique product assets with multi-year guaranteed pricing and speed options that create more choices and provide faster speeds.
+Added: Our Internet and mobile product bundles provide a differentiated connectivity experience by bringing together Spectrum Internet, Advanced WiFi and Unlimited Spectrum Mobile to offer consumers fast, reliable and secure online connections on their favorite devices at home and on-the-go in a high-value package.
Alternatively, our mobile customers can choose from unlimited or by-the-gig data usage plans and can easily switch between mobile data plans during the month.
All plans include 5G service, free nationwide talk and text, and simple pricing that includes all taxes and fees.
−Removed: Our Unlimited Plus plan also includes an additional 20 gigabytes of data, free roaming in Canada and Mexico and our Anytime Upgrade program that allows customers to upgrade their devices whenever they want, eliminating traditional wait times, upgrade fees and condition requirements.
+Added: Our Unlimited Plus plan also includes an additional 20 gigabytes of data, international calls and roaming in over 190 countries and our Anytime Upgrade program that allows customers to upgrade their devices whenever they want, eliminating traditional wait times, upgrade fees and condition requirements.
Customers can also purchase mobile devices and accessory products and have the option to pay for devices under interest-free monthly installment plans.
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The regional/metro network components provide connectivity between the regional demarcation points and headends within a specific geographic area and enable the delivery of content and services between these network components.
−Removed: Our last-mile network utilizes a hybrid fiber coaxial cable (“HFC”) architecture, which combines the use of fiber optic cable with coaxial cable.
+Added: Our last-mile network largely utilizes a hybrid fiber coaxial cable (“HFC”) architecture, which combines the use of fiber optic cable with coaxial cable, together creating our fiber-powered network.
In most systems, we deliver our signals via fiber optic cable from the headend to a group of nodes, and use coaxial cable to deliver the signal from individual nodes to the homes served by that node.
−Removed: Our design standard allows spare fiber strands to each node to be utilized for additional residential traffic capacity, and enterprise customer needs as they arise.
−Removed: For our Spectrum Enterprise customers, fiber optic cable is extended to the customer’s site.
−Removed: For most new buildouts, including for our rural construction initiative, and MDU sites, we utilize a fiber deployment.
−Removed: We believe that this hybrid network design provides high capacity and signal quality with a cost-efficient path to increased speeds.
−Removed: HFC architecture benefits include:
+Added: Our design standard allows spare fiber strands to each node to be utilized for additional residential traffic capacity, and mid-market & large business customer needs as they arise.
+Added: For our mid-market & large business customers, fiber optic cable is extended to the customer’s site.
+Added: For most new buildouts, including for our rural construction initiative, and MDU sites, we utilize an all-fiber deployment.
+Added: We believe that our fiber-powered network design provides high capacity and signal quality with a cost-efficient path to increased speeds.
+Added: Our fiber-powered network benefits include:
• bandwidth capacity to enable video and broadband services;
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• existing infrastructure with connections capable of self installation by the customer in most of our passings.
−Removed: Our systems currently provide a two-way all-digital platform, leveraging DOCSIS 3.1 technology and bandwidth of 750 megahertz or greater, to virtually all of our passings.
−Removed: This bandwidth-rich network enables us to offer a large selection of HD channels and Spectrum Internet Gig across all of our footprint which enables us to provide fast, reliable and secure online connections, meeting current customer demands.
+Added: Our systems currently provide a two-way all-digital platform, leveraging DOCSIS 3.1 technology and bandwidth of 750 megahertz or greater, to virtually all of our passings not yet part of our network evolution initiative.
+Added: This bandwidth-rich network enables us to offer Spectrum Internet Gig across all of our footprint which enables us to provide fast, reliable and secure online connections, meeting current customer demands.
Through our network evolution initiative, we are currently expanding our spectrum to 1.2 GHz through a module upgrade in the hub, node and amplifier and using high splits and DAA to deliver multi-gig speed capabilities while using the current DOCSIS 3.1 customer premise equipment.
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We plan to complement our wireline investments with planned WiFi upgrades for in-home routers.
−Removed: With nearly 500 million devices connected wirelessly to our network in our customers' homes and businesses, we are unlocking our network investments for multi-gigabit speeds through the deployment of WiFi 7 routers that we launched in late 2024.
+Added: With nearly 500 million devices connected wirelessly to our network in our customers' homes and businesses, we are unlocking our network investments for multi-gigabit speeds through the deployment of WiFi 7 routers.
We own 210 Citizen Broadband Radio Service (“CBRS”) Priority Access Licenses (“PALs”).
−Removed: We intend to use these licenses along with unlicensed CBRS spectrum to build our own 5G data-only mobile network on targeted 5G small cell sites leveraging our HFC network to provide power and data connectivity to the majority of the sites.
+Added: We intend to use these licenses along with General Authorized Access (“GAA”) CBRS spectrum to build our own 5G data-only mobile network on targeted 5G small cell sites leveraging our HFC network to provide power and data connectivity to the majority of the sites.
These 5G small cells, combined with growing WiFi capabilities, increase speed and reliability along with improving our cost structure through offload of wireless data onto our owned networks.
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Subsidized Rural Construction Initiative
−Removed: In 2024, we continued our subsidized rural construction initiative in which we intend to expand our network to offer a suite of broadband connectivity services, including fixed Internet, WiFi and mobile to over 1.7 million passings in unserved areas in states where we currently operate.
−Removed: Since inception in the beginning of 2022, we have spent $5.5 billion on our subsidized rural construction initiative and activated approximately 813,000 passings.
−Removed: Including amounts spent to date, we expect to invest over $8 billion in total over the span of the initiative, a portion of which we expect to offset with government funding, including over $2 billion of support awarded through December 31, 2024 in the Rural Development Opportunity Fund (“RDOF”) auction and other federal, state and municipal grants.
−Removed: We also expect to participate in additional federal, state and municipal grant programs
−Removed: over the coming years, including the Broadband Equity, Access and Deployment (“BEAD”) program, if regulatory conditions are conducive to private investment.
+Added: In 2025, we continued our subsidized rural construction initiative expanding our network to offer a suite of broadband connectivity services, including fixed Internet, WiFi and mobile to over 1.7 million passings in unserved areas in states where we currently operate.
+Added: Since inception in the beginning of 2022, we have spent $7.7 billion on our subsidized rural construction initiative and activated approximately 1.3 million passings.
+Added: Including amounts spent to date, we expect to invest over $8 billion in total over the span of the initiative, a portion of which we expect to offset with government funding, including over $2 billion of support awarded through December 31, 2025 in the Rural Development Opportunity Fund (“RDOF”) auction and other
+Added: federal, state and municipal grants, including the Broadband Equity, Access and Deployment (“BEAD”) program.
In addition to construction in areas subsidized by various government grants, we expect to continue rural construction in areas near our current plant and in areas surrounding subsidized construction where synergies can be achieved.
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We expect these newly served homes will be enabled to engage in remote work, virtual learning, telemedicine and other bandwidth-heavy applications that require high-speed broadband connectivity.
−Removed: Newly served rural areas will also benefit from our high-value Spectrum pricing and packaging structure including our mobile and voice offerings, as well as our comprehensive selection of video products.
+Added: Newly served rural areas also will benefit from our high-value Spectrum pricing and packaging structure including our mobile and voice offerings, as well as our comprehensive selection of video products.
The successful and timely execution of such fiber-based construction is dependent on a variety of external factors, including the make-ready and utility pole permitting processes.
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Our operations are centralized, with senior executives responsible for coordinating and overseeing operations, including establishing company-wide strategies, policies and procedures.
−Removed: Sales and marketing, field operations, customer operations, network operations, engineering, advertising sales, human resources, legal, government relations, information technology and finance are all directed at the corporate level.
+Added: Sales and marketing, field operations, customer operations, network technology services, advertising sales, human resources, legal, government relations, communications, product, software development and information technology and finance are all directed at the corporate level.
Regional and local field operations are responsible for customer premise service transactions and maintaining and constructing that portion of our network which is located outdoors.
Our field operations strategy includes completing a significant portion of our activity with our own employees which we find drives consistent and higher quality services.
−Removed: In 2024, our in-house field operations workforce handled approximately 85% of our customer premise service transactions.
+Added: In 2025, our in-house field operations workforce handled over 80% of our customer premise service transactions.
In addition, we have been growing our in-house construction teams to perform a portion of our network expansion initiatives.
−Removed: We continue to focus on improving the customer experience through enhanced product offerings, reliability of services, and delivery of quality customer service.
−Removed: As part of our operating strategy, we insource most of our customer operations workload.
−Removed: Our in-house call centers handle all of our customer service calls.
+Added: Our products and services are backed by an industry-first customer commitment.
+Added: We do not restrict how, or how often, our customers can contact us.
+Added: We are available across a range of channels, including phone, live-agent chat, the Spectrum application and social media.
+Added: Our customer websites and mobile applications enable customers to pay their bills, manage their accounts, order and activate new services and utilize self-service help and support.
+Added: In addition, our self-install program has been beneficial for customers who need flexibility in the timing of their installation.
+Added: This commitment is reinforced by our customer-first policies and 100% U.S.-based workforce with live customer service representatives available 24/7.
We manage our customer service call centers centrally to ensure a consistent, high-quality customer experience.
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Virtualization allows calls to be routed across our call centers regardless of the location origin of the call, reducing call wait times, and saving costs.
−Removed: We also provide customers with the opportunity to interact with us in the manner they choose through self-service options on our customer website and mobile device application, or via telephonic communication, online chat and social media.
−Removed: Our customer websites and mobile applications enable customers to pay their bills, manage their accounts, order and activate new services and utilize self-service help and support.
−Removed: In addition, our self-install program has been beneficial for customers who need flexibility in the timing of their installation.
−Removed: We sell our residential and commercial services using national brand platforms known as Spectrum, Spectrum Business, Spectrum Enterprise, Spectrum Reach and Spectrum Community Solutions.
+Added: We sell our residential and commercial services using national brand platforms known as Spectrum, Spectrum Business, Spectrum Reach and Spectrum Community Solutions.
These brands reflect our comprehensive approach to industry-leading products, driven by speed, performance and innovation.
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We monitor the effectiveness of our marketing efforts, customer perception, competition, pricing, and service preferences, among other factors, in order to increase our responsiveness to our customers and to improve our sales and customer retention.
−Removed: In September 2024, we launched our Life Unlimited brand platform which includes a new customer commitment that provides performance and service benchmarks and a new and simplified pricing structure designed to drive more value into our relationships.
−Removed: The marketing organization manages all residential, SMB and enterprise sales channels including inbound, direct sales, online, outbound telemarketing and stores.
+Added: Our Life Unlimited brand platform includes customer commitments that provide performance and service benchmarks and a simplified pricing structure designed to drive more value into our relationships.
+Added: The marketing organization manages all residential and Spectrum Business sales channels including inbound, direct sales, online, outbound telemarketing and stores.
We believe that offering a wide variety of video programming choices influences a customer’s decision to subscribe to and retain our video and Internet services.
We obtain basic and premium programming, usually pursuant to written contracts from a number of suppliers.
−Removed: We have also been successful in obtaining access to the related programmer streaming applications pursuant to those contracts.
+Added: We have also been successful in obtaining access to the related programmer streaming applications pursuant to those contracts at no additional cost.
Media corporation and broadcast station group consolidation has, however, resulted in fewer suppliers and additional selling power on the part of programming suppliers.
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We receive revenue to carry home shopping channels.
−Removed: We also offer VOD and pay-per-view channels of movies and events that are subject to a revenue split with the content provider.
+Added: We also offer VOD and pay-per-view movies and events that are subject to a revenue split with the content provider.
Residential Services
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Our residential Internet service faces competition across our footprint from fiber-to-the-home ("FTTH"), fixed wireless broadband, Internet delivered via satellite and DSL services.
−Removed: ("AT&T"), Frontier Communications Corporation (“Frontier”) and Verizon are our primary FTTH competitors and several of these FTTH competitors deliver 1 Gbps broadband speed (and some deliver multi Gbps) in at least a portion of their footprints which overlap our footprint.
−Removed: Additionally, several national mobile network operators offer long-term evolution (“LTE”) or 5G delivered cell phone home Internet service (fixed wireless access from cell phone towers) in our markets.
−Removed: In several markets, we also face competition from one or more fixed wireless providers that deliver point-to-point Internet connectivity.
−Removed: DSL service is offered across our footprint often at prices lower than our Internet services, although typically at speeds much lower than the minimum speeds we offer as part of our Spectrum pricing and packaging.
+Added: Several FTTH competitors deliver 1 Gbps broadband speed (and some deliver multi Gbps) in at least a portion of their footprints which overlap our footprint.
+Added: ("AT&T") and Verizon are our primary FTTH competitors.
+Added: We face terrestrial broadband Internet (defined by the Federal Communications Commission (“FCC”) as at least 100 Mbps) competition from AT&T and Verizon in approximately 27% and 16% of our operating footprint, respectively.
+Added: DSL service is also offered across our footprint often at prices lower than our Internet services, although typically at speeds much lower than the minimum speeds we offer as part of our Spectrum pricing and packaging.
In addition, commercial areas, such as retail malls, restaurants and airports, offer WiFi Internet service.
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These options offer alternatives to cable-based Internet access.
−Removed: We face terrestrial broadband Internet (defined by the FCC as at least 100 Mbps) competition from three primary competitors, AT&T, Frontier and Verizon, in approximately 25%, 9% and 6% of our operating footprint, respectively.
+Added: Several national mobile network operators offer long-term evolution (“LTE”) or 5G delivered cell phone home Internet service (fixed wireless access from cell phone towers) in our markets.
+Added: In several markets, we also face competition from one or more fixed wireless providers that deliver point-to-point Internet connectivity.
+Added: Further acquisition of additional spectrum by our competitors as a result of secondary sales or auction of additional spectrum would intensify these competitive pressures.
+Added: Mobile Competition
+Added: Our mobile service faces competition from national mobile network operators (“MNOs”) including AT&T, Verizon and T-Mobile, as well as a variety of regional operators and mobile virtual network operators.
+Added: Most carriers offer unlimited data packages to customers and combine free or highly discounted devices based on rate plans selected.
+Added: The MNOs also offer wireless Internet services delivered over networks that they continue to enhance to deliver faster speeds.
+Added: AT&T, Verizon and T-Mobile continue to expand 5G mobile services, and consolidations in the telecom industry continue to increase competition as they seek to offer converged connectivity services similar to ours.
+Added: We also compete for retail activations with other resellers that buy bulk wholesale service from wireless service providers for resale.
Video Competition
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Increasingly, exclusive television content, including marquee content like live sporting events, is becoming available from sources other than traditional MVPDs.
−Removed: These competitors include virtual MVPDs such as YouTube TV, Hulu Live, Sling TV, Philo and DirecTV Stream.
−Removed: Other online video business models and products have also developed, some offered by programmers, including, (i) subscription video on demand (“SVOD”) services such as Netflix, Apple TV+, Amazon Prime and Hulu Plus, (ii) programmer streaming applications such as Max, Disney+, Peacock and Paramount+, (iii) ad-supported free online video products, including YouTube and Pluto TV, some of which offer programming for free to consumers that we currently purchase for a fee, (iv) pay-per-view products, such as iTunes, and (v) additional offerings from mobile providers which continue to integrate and bundle video services and mobile products.
+Added: These competitors include virtual MVPDs such as YouTube TV, Hulu Plus Live TV, Sling TV, Philo and DirecTV Stream.
+Added: Other online video business models and products have also developed, some offered by programmers, including, (i) subscription video on demand (“SVOD”) services such as Netflix, Apple TV+, Amazon Prime and Hulu, (ii) programmer streaming applications such as HBO Max, ESPN Unlimited, Disney+, Peacock and Paramount+, (iii) ad-supported free online video products, including YouTube and Pluto TV, some of which offer programming for free to consumers that we currently purchase for a fee, (iv) pay-per-view products, such as iTunes, and (v) additional offerings from mobile providers which continue to integrate and bundle video services and mobile products.
Historically, we have generally viewed SVOD online video services as complementary to our own video offering and, in the case of programmer streaming applications, we are packaging with the linear offerings.
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DBS providers offer satellite-delivered pre-packaged programming services that can be received by relatively small and inexpensive receiving dishes.
−Removed: DBS providers offer aggressive promotional pricing and video services
−Removed: that are comparable in many respects to our residential video service.
+Added: DBS providers offer aggressive promotional pricing and video services that are comparable in many respects to our residential video service.
Our residential video service also faces competition from large telecommunications companies, primarily Verizon, which offer wireline video services in significant portions of our operating areas.
−Removed: Mobile Competition
−Removed: Our mobile service faces competition from national mobile network operators including AT&T, Verizon and T-Mobile US, Inc.
−Removed: ("T-Mobile"), as well as a variety of regional operators and mobile virtual network operators.
−Removed: Most carriers offer unlimited data packages to customers while some also offer free or highly discounted devices.
−Removed: Various operators also offer wireless Internet services delivered over networks which they continue to enhance to deliver faster speeds.
−Removed: AT&T, Verizon and T-Mobile continue to expand 5G mobile services, and consolidations in the telecom industry continue to increase competition as they seek to offer converged connectivity services similar to ours.
−Removed: We also compete for retail activations with other resellers that buy bulk wholesale service from wireless service providers for resale.
Voice Competition
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Additional Competition
−Removed: In some of our operating areas, other regional competitors have built networks that offer Internet, video, mobile and voice services that compete with our services.
+Added: In some of our operating areas, other regional competitors have built networks that offer Internet, mobile, video and voice services that compete with our services.
We also compete with other sources of news, information and entertainment, including over-the-air television broadcast reception, live events, movie theaters and the Internet.
Competition is also posed by fixed wireless and satellite master antenna television systems serving MDUs, such as condominiums, apartment complexes, and private residential communities.
−Removed: Business Services
+Added: Commercial Services
We face intense competition across each of our business services product offerings.
−Removed: Our SMB Internet, video, mobile and voice services face competition from a variety of providers as described above.
−Removed: Our enterprise solutions face competition from the competitors described above as well as cloud-based application-service providers, managed service providers and other telecommunications carriers, such as metro and regional fiber-based carriers.
+Added: Our small business Internet, mobile, video and voice services face competition from a variety of providers as described above.
+Added: Our mid-market & large business solutions face competition from the competitors described above as well as cloud-based application-service providers, managed service providers and other telecommunications carriers, such as metro and regional fiber-based carriers.
We face intense competition for advertising revenue across many different platforms and from a wide range of local and national competitors.
Advertising competition has increased and will likely continue to increase as new advertising platforms seek to attract the same advertisers.
−Removed: We compete for advertising revenue against, among others, local broadcast stations, national cable and broadcast networks, radio stations, print media, connected device platforms, direct-to-consumer ad-supported applications and online advertising companies and content providers.
+Added: We compete for advertising revenue against, among others, local broadcast stations, national cable and broadcast networks, direct-to-consumer ad-supported applications, connected device platforms, social media networks, online advertising companies and content providers, radio stations and print media.
Seasonality and Cyclicality
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with and into Liberty Broadband (the “Merger”), with Liberty Broadband surviving the Merger and becoming an indirect wholly owned subsidiary of Charter.
−Removed: Immediately following the merger, Liberty Broadband, as the surviving corporation of the merger, will merge with and into Fusion Merger Sub 1, LLC (the “upstream merger” and together with the merger, the “combination”), with Fusion Merger Sub 1, LLC surviving the upstream merger as a wholly owned subsidiary of Charter.
+Added: Immediately following the Merger, Liberty Broadband, as the surviving corporation of the Merger, will merge with and into Fusion Merger Sub 1, LLC (the “Upstream Merger” and together with the Merger, the “Liberty Broadband Combination”), with Fusion Merger Sub 1, LLC surviving the Upstream Merger as a wholly owned subsidiary of Charter.
At the effective time of the Merger (the “effective time”):
−Removed: • each share of (i) Liberty Broadband Series A common stock, par value $0.01 per share (“Liberty Broadband Series A common stock”), (ii) Liberty Broadband Series B common stock, par value $0.01 per share (“Liberty Broadband Series B common stock”), and (iii) Liberty Broadband Series C common stock, par value $0.01 per share (“Liberty Broadband Series C common stock” and together with the Liberty Broadband Series A common stock and the Liberty Broadband Series B common stock, the “Liberty Broadband common stock”), in each case, issued and outstanding immediately prior to the effective time (other than certain excluded shares as set forth in the merger agreement) will be converted into the right to receive 0.236 of a validly issued, fully paid and nonassessable share of Charter Class A common stock, par value $0.001 per share (“Charter Class A common stock”);
+Added: • each share of (i) Liberty Broadband Series A common stock, par value $0.01 per share (“Liberty Broadband Series A common stock”), (ii) Liberty Broadband Series B common stock, par value $0.01 per share (“Liberty Broadband Series B common stock”), and (iii) Liberty Broadband Series C common stock, par value $0.01 per share (“Liberty Broadband Series C common stock” and together with the Liberty Broadband Series A common stock and the Liberty Broadband Series B common stock, the “Liberty Broadband common stock”), in each case, issued and outstanding immediately prior to the effective time (other than certain excluded shares as set forth in the Merger Agreement) will be converted into the right to receive 0.236 of a validly issued, fully paid and nonassessable share of Charter Class A common stock, par value $0.001 per share;
• each share of Liberty Broadband Series A cumulative redeemable preferred stock, par value $0.01 per share (“Liberty Broadband preferred stock”), issued and outstanding immediately prior to the effective time (other than excluded treasury shares as set forth in the Merger Agreement) will be converted into the right to receive one share of newly issued Charter Series A cumulative redeemable preferred stock, par value $0.001 per share (“Charter preferred stock”).
The Charter preferred stock will have substantially identical terms to the Liberty Broadband preferred stock, including a mandatory redemption date of March 8, 2039.
−Removed: As of December 31, 2024, Liberty Broadband’s principal assets consist of approximately 45.3 million shares of Charter Class A common stock and its subsidiary GCI, LLC, which is comprised of one operating entity, GCI Holdings, LLC (“GCI”), Alaska’s largest communications provider.
−Removed: Pursuant to the merger agreement, Liberty Broadband has agreed to spin off GCI by way of a distribution to the stockholders of Liberty Broadband prior to the closing of the combination (the “GCI divestiture”).
−Removed: The GCI distribution is expected to be taxable to Liberty Broadband and its stockholders, with Charter bearing the corporate level tax liability upon completion of the combination.
+Added: As of December 31, 2025, Liberty Broadband’s principal assets consist of approximately 41.5 million shares of Charter Class A common stock.
+Added: Pursuant to the Merger Agreement, Liberty Broadband agreed to spin off its subsidiary, GCI, LLC, which was comprised of one operating entity, GCI Holdings, LLC (“GCI”), Alaska’s largest communications provider, by way of a distribution to the stockholders of Liberty Broadband prior to the closing of the Liberty Broadband Combination (the “GCI Divestiture”).
+Added: The GCI Divestiture was completed on July 14, 2025.
+Added: The GCI Divestiture is expected to be taxable to Liberty Broadband and its stockholders, with Charter bearing the corporate level tax liability upon completion of the Liberty Broadband Combination.
However, to the extent such corporate level tax liability exceeds $420 million, Charter will be entitled under a tax receivables agreement to the portion of the tax benefits realized by GCI corresponding to such excess.
−Removed: Liberty Broadband has debt of $2.6 billion (excluding debt at GCI) as of September 30, 2024 that will be repaid prior to closing or assumed by Charter, and $180 million in aggregate liquidation preference of Liberty Broadband preferred stock that will be converted into an equal amount of Charter preferred stock in the combination.
−Removed: The companies currently expect the transaction to close on June 30, 2027, unless otherwise agreed, subject to the completion of the GCI spin-off and other customary closing conditions.
−Removed: For additional information, see the definitive joint proxy statement/prospectus with respect to the combination, filed by Charter on January 22, 2025, including the sections entitled “The Combination,” “The Merger Agreement” and “Other Agreements Related to the Combination - Stockholders and Letter Agreement Amendment” included therein.
+Added: Liberty Broadband has debt of $1.8 billion as of September 30, 2025 that will be repaid prior to closing or assumed by Charter, and $180 million in aggregate liquidation preference of Liberty Broadband preferred stock that will be converted into an equal amount of Charter preferred stock in the Liberty Broadband Combination.
+Added: The companies currently expect the transaction to close contemporaneously with the closing of the Cox Transactions, unless otherwise agreed, subject to customary closing conditions.
+Added: For additional information, see the definitive joint proxy statement/prospectus with respect to the Liberty Broadband Combination, filed by Charter on January 22, 2025, including the sections entitled “The Combination,” “The Merger Agreement” and “Other Agreements Related to the Combination - Stockholders and Letter Agreement Amendment” included therein.
+Added: Cox Transactions
+Added: On May 16, 2025, Charter, Charter Holdings, and Cox Enterprises, Inc.
+Added: (“Cox Enterprises”) entered into a Transaction Agreement (the “Transaction Agreement”) pursuant to which (i) Cox Enterprises will sell and transfer to Charter 100% of the equity interests of certain subsidiaries of Cox Communications, Inc.
+Added: (“Cox Communications”) that conduct Cox Communications’ commercial fiber and managed IT and cloud services businesses (the “Equity Sale”), (ii) Cox Enterprises will contribute the equity interests of Cox Communications and certain other assets (other than certain excluded assets) primarily related to Cox Communications’ residential cable business to Charter Holdings (the “Contribution”), and (iii) Cox Enterprises will pay $1.00 to Charter (collectively, the “Cox Transactions”).
+Added: Under the Transaction Agreement, Charter and Cox
+Added: Enterprises may designate one or more wholly owned subsidiaries to take actions with respect to Charter and Cox Enterprises, respectively.
+Added: Pursuant to the Transaction Agreement, at the closing of the Cox Transactions (the “Closing”):
+Added: • in consideration of the Equity Sale, Charter will pay $3.5 billion in cash to Cox Enterprises;
+Added: • in consideration of the Contribution, Charter Holdings will (i) pay to Cox Enterprises $500 million in cash and (ii) issue to Cox Enterprises convertible preferred units of Charter Holdings with an aggregate liquidation preference of $6.0 billion, which will pay a 6.875% dividend per annum, and approximately 33.6 million Charter Holdings common units.
+Added: The Charter Holdings convertible preferred units will be convertible into Charter Holdings common units, with an initial conversion price of $477.41, subject to certain adjustments.
+Added: The Charter Holdings common units will be exchangeable by the holder, in certain circumstances, for cash or, at the election of Charter, Charter Class A common stock on a one-for-one basis, subject to certain adjustments;
+Added: • in consideration of the $1.00 payment from Cox Enterprises to Charter, Charter will issue to Cox Enterprises one share of the newly created Charter Class C common stock.
+Added: The Charter Class C common stock will be equivalent, economically, to the outstanding Charter Class A common stock and the Charter Class B common stock but will have a number of votes per share that reflect the voting power of the Charter Holdings common units and the Charter Holdings convertible preferred units held by Cox Enterprises on an as-converted, as-exchanged basis.
+Added: The combined entity will assume Cox Communications’ approximately $12.6 billion in outstanding net debt and finance leases (assumed debt is on a pro forma basis contemplating Cox Communications refinancing of debt maturities occurring between signing and closing of the Cox Transactions).
+Added: For additional information, see the definitive proxy statement with respect to the acquisition, filed by Charter on July 2, 2025, including the sections entitled “The Transactions,” “The Transaction Agreement” and “Other Agreements Related to the Transactions” included therein.
Regulation and Legislation
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For example, Internet-delivered streaming video services compete with our traditional video service, but they are not subject to the same level of federal, state, and local regulation.
−Removed: In addition, new Supreme Court
−Removed: decisions in 2024 may increase the likelihood that federal courts could vacate federal agency rules that would have been favorable or unfavorable to our business.
+Added: In addition, changes in Supreme Court precedent have increased the likelihood that federal courts could vacate federal agency rules that would have been favorable or unfavorable to our business.
We cannot provide assurance that the already extensive regulation of our business will not be expanded in the future.
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Popular stations routinely invoke “retransmission consent” and demand substantial compensation increases in their negotiations with cable operators, thereby significantly increasing our operating costs.
+Added: A recent federal court decision allows for additional consolidation of the top four rated broadcast stations in local markets, which will likely result in increases in the rates for retransmission consent.
+Added: Further, the FCC is considering modifying its rules to allow broadcast television ownership groups to own more broadcast stations in a given market and nationally, which would also result in further increases in the rates for retransmission consent.
Pole Attachments
The Communications Act of 1934, as amended (the “Communications Act”), requires investor-owned utilities to provide cable systems with access to poles and conduits upon reasonable, non-discriminatory terms and at rates that are subject to either federal or state regulation.
−Removed: Federal regulations, which apply in twenty-seven states, establish cost-based rental rates applicable to pole attachments used for cable or telecommunications services, including when offered together with Internet service, and at times establish mandatory timelines for processing pole access requests and limitations on make-ready costs that pole owners may charge for accommodating attachments.
−Removed: The FCC's approach does not directly affect the rate in the twenty-three states that self-regulate, but many of those states have substantially the same rate for all communications attachments.
−Removed: The federal pole attachment law does not extend to poles owned by electric cooperatives or municipal electric companies, but states are free to regulate these entities, and many do.
−Removed: We sometimes face challenges getting access to poles in rural areas where upfront construction and make ready costs can be higher and where pole owners may be slow to grant our permit requests, especially when the FCC pole attachment rules do not apply or when FCC mandatory timelines do not apply, as is the case in most rural builds.
+Added: Federal regulations, which apply in twenty-six states, establish cost-based rental rates applicable to pole attachments used for cable or telecommunications services, including when offered together with Internet service, and at times establish mandatory timelines for processing pole access requests and limitations on make-ready costs that pole owners may charge for accommodating attachments.
+Added: The FCC's approach does not directly affect the rate in the twenty-three states that self-regulate, but most of those states follow substantially similar approaches as the FCC.
+Added: The federal pole attachment law does not extend to poles owned by electric cooperatives or municipal electric companies, but states are free to regulate these entities, and some do.
+Added: We sometimes face challenges getting access to poles in rural areas where upfront construction and make ready costs can be higher and where pole owners may be slow to grant our permit requests, especially when the FCC pole attachment rules do not apply or when FCC mandatory timelines do not apply, as is the case in many rural builds.
Other FCC Regulatory Matters
19 unchanged sentences
Our ability to access and use spectrum that may become available in the future is uncertain and may be limited by further FCC auction or allocation decisions.
−Removed: While the FCC currently does not have auction authority, Congressional action to restore the FCC’s auction authority could direct spectrum be licensed in a manner beneficial to our competitors.
+Added: Congressional action in 2025 restored the FCC’s auction authority and could result in the licensing of additional spectrum in a manner beneficial to our competitors.
New or additional spectrum obtained by other parties could lead to additional wireless competition to our existing and future services.
9 unchanged sentences
The specific terms and conditions of cable franchises vary significantly between jurisdictions.
−Removed: They generally contain provisions governing cable operations, franchise fees, access to and use of rights of way, system construction, maintenance, technical performance, customer service standards, supporting and carrying public, education and government access channels, and changes in the ownership of the franchisee.
+Added: They generally contain provisions governing cable operations, payment of franchise fees, access to and
+Added: use of rights of way, system construction, maintenance, technical performance, customer service standards, supporting and carrying public, education and government access channels, and changes in the ownership of the franchisee.
Although local franchising authorities have considerable discretion in establishing franchise terms, certain federal protections benefit cable operators.
1 unchanged sentence
The FCC has clarified that the value of in-kind contribution requirements set forth in cable franchises is subject to the statutory cap on franchise fees, and it reaffirmed that state and local authorities are barred from imposing franchise fees on revenues derived from non-cable services, such as Internet services, provided by cable operators over cable systems.
−Removed: A number of states have adopted franchising laws that provide for state-issued franchising.
+Added: A number of states have adopted franchising laws that provide for state-issued franchises.
Generally, state-issued cable franchises are for a fixed term (or in perpetuity), streamline many of the traditional local cable franchise requirements and eliminate local negotiation and enforcement of terms.
3 unchanged sentences
Internet Service
−Removed: The FCC originally classified broadband Internet access services, such as those we offer, as an “information service,” which exempted the service from traditional communications common carrier laws and regulations.
−Removed: In 2015, the FCC reclassified broadband Internet access services as “telecommunications service” and, on that basis, imposed a number of “net neutrality” rules governing the provision of broadband service.
−Removed: In 2017, the FCC eliminated the 2015 rules other than a transparency requirement that obligates us to disclose performance statistics and other service information to consumers.
−Removed: In 2024, the FCC once again reclassified our Internet access services as telecommunications services.
−Removed: The industry challenged the Order in court, and on January 2, 2025, the Court of Appeals for the Sixth Circuit issued a decision invalidating the reclassification and the rules contained in the FCC’s Order.
−Removed: It is also possible that the new Administration and Congress could adopt different requirements applicable to our Internet access services.
−Removed: The application of new legal requirements to our Internet services could adversely affect our business.
−Removed: In 2024, we became subject to new requirements to post standardized labels disclosing our network management policies and performance of our broadband Internet access services, similar to the format of food nutrition labels, for each of our currently available consumer Internet offerings.
−Removed: The 2017 FCC decision reclassifying Internet access services also ruled that state regulators may not impose obligations similar to federal network neutrality obligations that the FCC eliminated, but this blanket prohibition was vacated by a federal Court of Appeals in 2019.
−Removed: The court left open the possibility that individual state laws could be deemed preempted on a case-by-case basis if it is shown that they conflict with federal law.
−Removed: Several states have adopted rules similar to the network neutrality requirements that were eliminated by the FCC, and the California rules were upheld in federal court.
−Removed: California has also adopted other regulations, including network resiliency rules to assure backup power is available after natural disasters and other outages, and it is considering the imposition of licensing requirements and service quality metrics on Internet service providers.
−Removed: New York adopted legislation that would require Internet service providers to offer a discounted Internet service to qualifying low-income consumers.
−Removed: A federal district judge enjoined enforcement as likely to be deemed rate regulation of Internet service that would be preempted by federal law, but that injunction was reversed by a federal Court of Appeals.
−Removed: On December 16, 2024, the Supreme Court denied certiorari for the appeal of that decision.
−Removed: The rules became enforceable by the Attorney General of New York on January 15, 2025.
−Removed: We cannot predict the outcome of that appeal, what other legislation and regulations may be adopted by states, or how challenges to such requirements will be resolved.
−Removed: In October 2024, the Federal Trade Commission (“FTC”) adopted rules that would make it easier and faster for consumers to terminate subscription services, including all our services.
−Removed: These rules have been challenged in federal court, and we cannot predict the outcome of those challenges.
−Removed: The application of these rules could adversely affect our business.
+Added: The FCC currently classifies broadband Internet access services, such as those we offer, as an “information service,” which exempts the service from traditional communications common carrier laws and regulations.
+Added: Previously, the FCC has classified broadband Internet access services as “telecommunications service.” If the FCC were again to reclassify broadband Internet access services as telecommunications services, it could adversely affect our business.
+Added: In 2024, the FCC adopted new requirements based upon Congressional directive to post standardized labels disclosing our network management policies and performance of our broadband Internet access services, similar to the format of food nutrition labels, for each of our currently available consumer Internet offerings.
+Added: The FCC is considering removing some of the details of these requirements.
+Added: Federal courts have allowed states to regulate broadband Internet access services, despite their classification as information services.
+Added: Several states, including California, Maine and Vermont, have adopted rules similar to the network neutrality requirements that were eliminated by the FCC, and the California rules were upheld in federal court.
+Added: California has also adopted other regulations, including network resiliency rules to assure backup power is available after natural disasters and other outages and where commercial power has been turned off due to public safety power shutoffs, and it is considering the imposition of licensing requirements and service quality metrics on Internet service providers.
+Added: New York legislation became effective in 2025 that requires Internet service providers to offer a discounted Internet service to qualifying low-income consumers.
+Added: We cannot predict what other legislation and regulations may be adopted by states, or how challenges to such requirements will be resolved.
In November 2023, the FCC adopted new rules governing digital discrimination, pursuant to The Infrastructure Investment and Jobs Act of 2021 (the “IIJA”), to prevent discrimination of access to broadband Internet services.
−Removed: Most of these rules have become effective, but they are subject to ongoing legal challenges and could be modified or rescinded by the FCC in the new Administration.
−Removed: California adopted digital discrimination rules in November 2024.
−Removed: We cannot predict the outcome of legal challenges or whether the nature of practices that could be subject to enforcement under these rules could adversely affect our business.
−Removed: In recent years, the federal, state and local governments have offered billions of dollars in subsidies to companies deploying broadband to areas deemed to be “unserved” or “underserved,” using funds from the FCC’s RDOF auction in 2020, The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act (2020), The American Rescue Plan Act of 2021 (“ARPA”), and IIJA.
+Added: Most of these rules have become effective, but they are subject to ongoing legal challenges.
+Added: We cannot predict what other legislation and regulations may be adopted by states, or the outcome of legal challenges or whether the nature of practices that could be subject to enforcement under these rules could adversely affect our business.
+Added: In recent years, the federal, state and local governments have offered billions of dollars in subsidies to companies deploying broadband to areas deemed to be “unserved” or “underserved,” using funds from the FCC’s RDOF auction in 2020, The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act (2020), The American Rescue Plan Act of 2021 (“ARPA”), BEAD and IIJA.
We support such subsidies, provided they are not directed to areas that are already served, and have sought and expect to continue to seek subsidies for our own broadband construction in unserved and underserved areas through programs including RDOF and those created pursuant to ARPA and, if regulatory requirements are reasonable, the IIJA.
−Removed: We have been awarded over $2 billion in the RDOF auction and other federal, state and municipal grants that will partially fund, along with our substantial additional investment, the construction of new broadband infrastructure to over 1.7 million estimated passings.
−Removed: Our awards through RDOF and ARPA include a number of regulatory requirements, such as serving as the carrier of last resort and completing increasingly larger portions of the network construction by certain dates.
+Added: To date, we have been awarded over $2 billion in the RDOF auction and other federal, state and municipal grants that will partially fund, along with our substantial additional investment, the construction of new broadband infrastructure to over 1.7 million estimated passings.
+Added: Our awards include a number of regulatory requirements, such as serving as the carrier of last resort and
+Added: completing increasingly larger portions of the network construction by certain dates.
If we fail to meet these obligations, we could be subject to substantial government penalties.
6 unchanged sentences
Our Spectrum Mobile service offers mobile Internet access and telephone service.
−Removed: We provide this service as a mobile virtual network operator (“MVNO”) using Verizon’s network and our network through Spectrum WiFi.
+Added: We provide this service as a mobile virtual network operator (“MVNO”) using Verizon’s network and our network through Spectrum WiFi and CBRS.
As an MVNO, we are subject to many of the same FCC regulations that apply to facilities-based wireless carriers, as well as certain state or local regulations, including (but not limited to):
−Removed: E911, local number portability, customer privacy, Communications Assistance for Law Enforcement Act (“CALEA”), Universal Service Fund contributions, robocall mitigation and hearing aid compatibility and safety and emission requirements for mobile devices.
+Added: 911 emergency services (“E911”), local number portability, customer privacy, Communications Assistance for Law Enforcement Act (“CALEA”), Universal Service Fund contributions, robocall mitigation, hearing aid compatibility and safety and emission requirements for mobile devices.
Spectrum Mobile’s broadband Internet access service is also subject to the FCC’s transparency rule and broadband labeling rules.
2 unchanged sentences
Wireline Voice Service
−Removed: The FCC has never classified the VoIP wireline telephone services we offer as “telecommunications services” that are subject to traditional federal common carrier regulation, but instead has imposed some of these regulatory requirements on a case-by-case basis, such as requirements relating to 911 emergency services (“E911”), CALEA (the statute governing law enforcement access to and surveillance of communications), Universal Service Fund contributions, customer privacy and Customer Proprietary Network Information (“CPNI”) protections, number portability, network and/or 911 outage reporting, rural call
−Removed: completion, disability access, regulatory fees, back-up power, robocall mitigation and discontinuance of service.
+Added: The FCC has never classified the VoIP wireline telephone services we offer as “telecommunications services” that are subject to traditional federal common carrier regulation, but instead has imposed some of these regulatory requirements on a case-by-case basis, such as requirements relating to E911, CALEA (the statute governing law enforcement access to and surveillance of communications), Universal Service Fund contributions, customer privacy and Customer Proprietary Network Information (“CPNI”) protections, number portability, network and/or 911 outage reporting (including outages that adversely affect 911 service), rural call completion, disability access, regulatory fees, robocall mitigation and discontinuance of service.
It is possible that the FCC or Congress will impose additional federal requirements on our VoIP telephone services in the future.
5 unchanged sentences
Some states have attempted to subject cable VoIP services, such as our VoIP telephone service, to state level regulation.
−Removed: California has imposed reporting and other obligations on our VoIP services, including backup power requirements, and has proposed the imposition of service quality metrics on VoIP services.
−Removed: California has recently adopted an order requiring providers of VoIP services to comply with new registration and/or certification requirements in order to conduct business in the state.
−Removed: We have registered with or obtained certificates or authorizations from the FCC and the state regulatory authorities in those states in which we offer competitive voice services in order to ensure the continuity of our services.
+Added: California has imposed licensing, reporting and other obligations on our VoIP services, including backup power requirements, and has proposed the imposition of service quality metrics on VoIP services.
+Added: We have registered with or obtained certificates or authorizations from the FCC and the state regulatory authorities in those states in which we offer competitive voice services and/or VOIP in order to ensure the continuity of our services.
However, it is unclear whether and how these and other ongoing regulatory matters ultimately will be resolved.
1 unchanged sentence
Privacy and Information Security Regulation
−Removed: The Communications Act limits our ability to collect, use, and disclose customers’ personally identifiable information for our Internet, video, mobile and voice services.
+Added: The Communications Act limits our ability to collect, use, and disclose customers’ personally identifiable information for our Internet, mobile, video and voice services.
We are subject to additional federal, state, and local laws and regulations that impose additional restrictions on the collection, use and disclosure of consumer information.
All broadband and VoIP providers are also obliged by CALEA to configure their networks in a manner that facilitates the ability of state and federal law enforcement, with proper legal process authorized under the Electronic Communications Privacy Act, to wiretap and obtain records and information concerning our customers, including the content of their communications.
−Removed: Further, the FCC, FTC, and many states regulate and restrict the marketing practices of communications service providers, including telemarketing and sending unsolicited commercial emails.
−Removed: The FTC currently has the authority, pursuant to its general authority to enforce against unfair or deceptive acts and practices, to protect the privacy of Internet service customers, including our use and disclosure of certain customer information.
+Added: Further, the FCC, Federal Trade Commission (“FTC”), and many states regulate and restrict the marketing practices of communications service providers, including telemarketing and sending unsolicited commercial emails.
+Added: The FTC currently has the authority, pursuant to its
+Added: general authority to enforce against unfair or deceptive acts and practices, to protect the privacy of Internet service customers, including our use and disclosure of certain customer information.
Our operations are also subject to federal and state laws governing information security.
2 unchanged sentences
The FCC, the FTC and state attorneys general regularly bring enforcement actions against companies related to information security breaches and privacy violations.
+Added: The California Privacy Protection Agency adopted new cybersecurity regulations that will require us to conduct annual cybersecurity audits if the processing of our personal data “presents significant risk to consumers’ security.” The first deadline for compliance is January 1, 2027 and the first audit certification is due by April 1, 2028.
Various security standards provide guidance to telecommunications companies in order to help identify and mitigate cybersecurity risks.
1 unchanged sentence
Cybersecurity - Risk Management and Strategy.
−Removed: The FCC adopted rules expanding its cybersecurity guidelines and requirements.
−Removed: These rules have been challenged in federal court and we cannot predict the outcome of that appeal or whether the rules could be modified by the new Administration.
The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency has sought comment on the development of cyber incident reporting rules, pursuant to 2022 legislative requirements, that require critical infrastructure entities to report substantial cyber incidents within 72 hours of their discovery.
+Added: On June 13, 2025, the New York Public Service Commission issued a Notice of Proposed Rulemaking for Information Technology Cybersecurity Requirements pertaining to regulated entities, including telecommunications and cable service providers.
+Added: Written comments on the proposed rule were due on September 15, 2025, and the proceeding is ongoing.
+Added: These rules, if adopted, may increase our costs or impose new restrictions on the operation of our business.
+Added: The Department of Defense began the phased rollout of the Cybersecurity Maturity Model Certification (“CMMC”) program, which amends the Defense Federal Acquisition Regulation Supplement and introduces mandatory cybersecurity standards for defense contractors, on November 10, 2025.
Many states and local authorities have considered legislative or other actions that would impose restrictions on our ability to collect, use and disclose, and safeguard certain consumer information.
2 unchanged sentences
The Maine Act to Protect Privacy of Online Customer Information, which regulates how Internet service providers use and disclose customers’ personal information and requires Internet service providers to take reasonable measures to protect customers’ personal information, became effective on July 1, 2020.
−Removed: Data privacy laws subsequently have taken effect in Colorado, Connecticut, Delaware, Florida, Iowa, Montana, Nebraska, New Hampshire, New Jersey, Oregon, Texas, Virginia, and Utah, and are scheduled to become effective in Tennessee on July 1, 2025, Minnesota on July 31, 2025, Maryland on October 1, 2025, and Indiana, Kentucky, and Rhode Island on January 1, 2026.
+Added: Data privacy laws subsequently have taken effect in Colorado, Connecticut, Delaware, Florida, Indiana, Iowa, Kentucky, Maryland, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, Oregon, Rhode Island, Tennessee, Texas, Utah, and Virginia.
+Added: The California Privacy Protection Agency adopted new regulations governing the use of automated decision-making tools, defining cybersecurity audit requirements, and requiring risk assessments of certain types of processing activities.
+Added: Colorado adopted amendments to its regulations under the Colorado Privacy Act, and New Jersey is in the process of finalizing regulations under the New Jersey Data Privacy Act.
+Added: Colorado passed the Colorado Artificial Intelligence Act (“CAIA”) which will take effect on June 30, 2026.
+Added: The CAIA governs the use of certain Artificial Intelligence systems.
Each of these laws will regulate the way that companies collect, use, and share personal information about consumers.
Other state legislatures are considering the adoption of new data security and cybersecurity legislation, and states with newly passed laws continue to consider amendments, that could result in additional network and information security requirements for our business.
−Removed: The FTC has an ongoing Advance Notice of Proposed Rulemaking to explore rules related to the collection, analysis, and monetization of consumers' information, as well as companies’ data security practices and related disclosures to consumers.
+Added: For example, Louisiana (effective July 1, 2026), Texas (effective January 1, 2026 but enjoined by the district court and appealed to the fifth circuit where it is currently pending), California (effective January 1, 2027) and Utah (effective May 7, 2025) passed laws establishing specific requirements for app developers and stores requiring age verification and parental consent for online apps.
+Added: The FTC adopted amendments to the Children’s Online Privacy Protection Act (“COPPA”) rules earlier this year to reflect changes in technology that have occurred since the COPPA rules were last updated in 2013.
The FTC has also warned companies not to misuse consumers’ biometric information, with a broad definition of biometrics similar to Washington’s My Health My Data Act and the CCPA that treat biometrics as sensitive consumer information, and Illinois and Texas have also adopted laws regulating the use of such information.
−Removed: The new Congress may also adopt new privacy and data security obligations that could supplement or preempt state privacy laws.
+Added: Congress may also adopt new privacy and data security obligations that could supplement or preempt state privacy laws.
+Added: Finally, enforcement of state consumer privacy laws has increased with both the California attorney general and the California Privacy Protection Agency bringing actions against companies in multiple industry sectors for failure to comply with various aspects of the CCPA.
+Added: The Texas attorney general has been active in enforcing the new Texas Data Privacy and Security Act and other states—including Connecticut, Arkansas, and Nebraska—have increased enforcement.
We cannot predict whether any of the above efforts will be successful, challenged, upheld, vacated, or preempted, or how new legislation and regulations, if any, would affect our business.
−Removed: Human Capital Management
+Added: Human Capital Resources
As of December 31, 2025, we had approximately 91,900 active full-time equivalent employees.
The vast majority of our employees sell or service our products.
−Removed: We believe that attracting, developing and retaining our highly-skilled workforce is critical to successfully executing our operating strategy.
+Added: We believe that attracting, developing and retaining our highly-skilled 100% U.S.-based employees is critical to successfully executing our operating strategy.
With competitive wages, robust and affordable healthcare benefits, a generous retirement program with company match, and opportunities for job training and advancement, our employees develop skills and expertise necessary to build a long and successful career with us.
−Removed: In addition, the diversity of the communities we serve is reflected in our workforce, which is a critical part of our success in serving these communities.
+Added: In addition, the communities we serve are reflected in our workforce, which is a critical part of our success in serving these communities.
We value the unique backgrounds, perspectives, and experiences of our employees.
4 unchanged sentences
• All hourly employees have a starting minimum wage of at least $20 per hour, which is well above any state or federal minimum wage level.
−Removed: • Over 80% of our employees are eligible for additional variable compensation based on their performance, including annual bonus eligibility for all frontline supervisors and other salaried employees not already on a sales commission or bonus plan.
+Added: • Approximately 80% of our employees are eligible for additional variable compensation based on their performance, including annual bonus eligibility for all frontline supervisors and other salaried employees not already on a sales commission or bonus plan.
• We provide high-quality, comprehensive medical, dental, and vision coverage for all full-time and part-time employees.
−Removed: It is our priority to keep this coverage affordable for our employees and their families, and so for the last twelve years, we have absorbed the full premium cost increase for medical, dental, and vision coverage.
+Added: It is our priority to keep this coverage affordable for our employees and their families, and so for the last 13 years, we have absorbed the full premium cost increase for medical, dental, and vision coverage.
• We provide competitive financial benefits to all employees such as a 401(k) Plan with a dollar-for-dollar company match up to 6% of their eligible pay.
−Removed: In addition, most of our employees are also eligible to receive an additional non-elective contribution to a Retirement Accumulation Plan equal to 3% of their eligible pay.
+Added: Most of our employees are also eligible to receive an additional non-elective contribution to a Retirement Accumulation Plan equal to 3% of their eligible pay.
+Added: In addition, in 2025, we introduced a new employee stock purchase plan that gives eligible employees the option to purchase Charter Class A common stock and receive a matching grant of restricted stock units that increase based on tenure.
• We have a stock incentive plan and grant equity awards to eligible employees on an annual basis.
8 unchanged sentences
This program, certified by the U.S.
−Removed: Department of Labor, is aligned with our broadband technician career progression and
−Removed: includes thousands of hours of on-the-job training along with classroom instruction.
+Added: Department of Labor, is aligned with our broadband technician career progression and includes thousands of hours of on-the-job training along with classroom instruction.
When enrolled employees complete the program, they become certified broadband technicians.
1 unchanged sentence
Executive leadership reviews the results of talent conversations, which open possibilities for career growth opportunities and cross-organizational movement.
−Removed: Reflecting the Communities We Serve
−Removed: • Our commitment to diversity and inclusion is based on our objective to reflect the markets, communities, and customers we serve, enabling us to deliver high-quality products and services that exceed our customers’ expectations, as well as foster an inclusive environment where all employees can thrive and have a long-term career with the company.
−Removed: • We have five Business Resource Groups (“BRGs”) focused on people with disabilities, the LGBTQ community, employees with multicultural backgrounds, veterans and women.
−Removed: Open to all employees, these voluntary groups enable employees to engage in activities that support our culture of inclusion and contribute to business success.
−Removed: Our BRGs have empowered our team members to grow and succeed by providing networking, mentorship and skill-building opportunities for anyone who chooses to join.
−Removed: • Several initiatives promote inclusion and belonging in our workplace including the BRGs, educational opportunities that build the skills and competency of leaders to foster diverse and inclusive teams, as well as additional communications tools and resources.
−Removed: • Our efforts are guided by an external advisory council and an internal steering committee, with annual reporting to the Board of Directors.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.