New York State Approves Charter/Time Warner Cable Transaction
Approval by State Public Service Commission Completes Regulatory Process in New York
STAMFORD, Conn., Jan. 8, 2016 /PRNewswire/ -- Today, Charter Communications, Inc. received approval of its merger with Time Warner Cable Inc. (TWC) from the State of New York – bringing the close of the Charter transactions another step closer. This action by New York puts Charter's pending transactions with TWC and Bright House Networks (BHN) in a strong position as the companies continue to demonstrate that New Charter is squarely in the public interest.
"This is a significant step forward, not only for Charter but also for our future customers, and we are very happy to have obtained this approval from the New York State PSC," said Tom Rutledge, president and CEO of Charter Communications. "We thank Governor Cuomo and his team for their leadership and we look forward to bringing many benefits including a superior high speed low cost broadband service to families and seniors in New York."
As part of the approval process with the NYPSC, Charter also made additional commitments regarding providing a minimum speed of 60 Mbps as well as offering a speed of 300 Mbps throughout the state, building out its networks to currently unserved residential and commercial areas in its footprint, and investing in and enhancing customer service.
Charter (NASDAQ: CHTR) is a leading broadband communications company and the fourth-largest cable operator in the United States. Charter provides a full range of advanced broadband services, including Spectrum TV™ video entertainment programming, Spectrum Internet™ access, and Spectrum Voice™. Spectrum Business™ similarly provides scalable, tailored, and cost-effective broadband communications solutions to business organizations, such as business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul. Charter's advertising sales and production services are sold under the Spectrum Reach™ brand. More information about Charter can be found at charter.com