Comcast, a recent Barron’s stock pick, is still focused on spinning off assets. A deal between rivals won’t change that.

Charter Communications on Friday agreed to buy privately held rival Cox Communications for $21.9 billion, combining two of the largest U.S. cable and broadband operators in their battle with streaming giants and mobile carriers.

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