Charter Communications plans to buy Cox Communications for $21.9 billion. The deal will create a major player in the cable and broadband industries, competing with Comcast. It comes as cable operators see subscriptions diminish in both areas.

The combination of two of America's largest cable companies could impact your broadband package. This is what we know so far.

Charter agreed to acquire privately held Cox in a deal valued at $34.5 billion as cable companies confront multiple challenges.