Charter & NY Formally Kiss & Make Up
After New York's Public Service Commission rescinded approval of Charter's merger with TWC and Charter threatened to leave the state, negotiations succeeded and both orgs come out winners.
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:
Related posts:
— Alison Diana, Editor, Broadband World News. Follow us on Twitter or @alisoncdiana.
About the Author
You May Also Like