Public Service Commission revokes Charter merger agreement with Time Warner Cable
July 27, 2018 06:14 PM
The New York State Public Service Commission is revoking a 2016 merger agreement between Charter Communications and Time Warner Cable.
The commission says Charter, which has been doing business as Spectrum, failed to deliver on promises to expand its network reach and repeatedly missed deadlines.
Charter also must pay the commission another $1 million in fines, on top of $2 million already paid. They may face more penalties in the state Supreme Court.
Charter is the largest cable provider in the state, with more than 2 million customers. The company has been ordered to maintain service to all of them until an orderly transition occurs. They have 60 days to file a plan to ensure a new transition to another provider.
Charter released the following statement to NewsChannel 13:
"In the weeks leading up to an election, rhetoric often becomes politically charged. But the fact is that Spectrum has extended the reach of our advanced broadband network to more than 86,000 New York homes and businesses since our merger agreement with the PSC. Our 11,000 diverse and locally based workers, who serve millions of customers in the state every day, remain focused on delivering faster and better broadband to more New Yorkers, as we promised."
Updated: July 27, 2018 06:14 PM
Created: July 27, 2018 02:29 PM
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