The wait is almost over.
Nearly a full year after Charter Communications Inc. signed separate but related deals to acquire Time Warner Cable Inc. (NYSE: TWC) and Bright House Networks , the company has cleared its final hurdle on the way to closing both transactions. The California Public Utilities Commission was the last regulatory body that needed to sign off on the deals, and the CPUC handed down its approval today.
Light Reading has written extensively about Charter's pursuit of TWC and Bright House over the last year. But in case you missed it or need a recap, here's a briefing sheet covering the most important aspects of the landmark mega-deal.
Conditions imposed by regulators
- For seven years, Charter may not implement usage-based pricing or data caps for broadband services.
- Charter must continue to provide free interconnection services. More companies will qualify for free interconnection under new Federal Communications Commission (FCC) parameters.
- For seven years, Charter may not mandate against or penalize programming partners for streaming content online.
- Charter must build out high-speed broadband services to 2 million additional homes and institute a low-income broadband program.
- The FCC will adopt a system for monitoring Charter's compliance with all of the transaction conditions.
— Mari Silbey, Senior Editor, Cable/Video, Light Reading