The cable industry is fighting back against streaming services with the announcement that Charter Communications and Cox Communications will merge. Charter, more commonly known as Spectrum, will buy Cox for around $34.

Two of the largest cable companies in the US are intent on merging. Charter Communications’ proposed acquisition of Cox Communications — the largest division of Cox Enterprises — will value the former at over $34 billion inclusive of debt.

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