Charter & NY Formally Kiss & Make Up
Charter Communications and the New York Public Service Commission finalized an agreement on Thursday that allows the MNO to remain in the state, negating a 2018 move by regulators to rescind approval for Charter's 2016 purchase of Time Warner Cable and force Charter to leave New York.
Under the new pact, Charter must deliver high-speed broadband to 145,000 upstate New York customers -- an investment estimated at about $600 million, or almost double the $305 million Charter committed to the area in 2016, the PSC said. The operator also will pay approximately $12 million to deploy broadband to another 145,000 households, according to the Commission. To date, Charter has passed about 65,000 of those 145,000 homes, or approximately 45% of the households.
Charter must complete the expansions by September 30, 2021. The PSC commissioners voted 3-1 for the revision, local paper Democrat and Chronicle reported.
Here's how Charter and the NY PSC got here:
- NY State Levies $13M Fine on Charter
- New York State Tells Charter to Get Out
- Charter to New York: We Ain't Going Anywhere
- Charter to Pay $175M to Settle Broadband Speed Suit
- NY Congressman Urges FCC to Put the Heat on Charter
- Deal Will Keep Charter in New York