New Jersey Approves Charter/Time Warner Cable Transaction
Pending Transactions move another step closer to a timely close
STAMFORD, Conn., Feb. 24, 2016 /PRNewswire/ -- Today, Charter Communications, Inc. received approval of its merger with Time Warner Cable Inc. (TWC) from the State of New Jersey Board of Public Utilities – another important step in the transaction review process that follows approval by the state of New York last month.
Charter has now secured the necessary regulatory approval from all but two of the states it will serve as New Charter. Charter has made a number of commitments that ensure the combined company will deliver significant consumer benefits. These include adding American jobs and enhancing customer service by returning Time Warner Cable call centers to the U.S., preserving an open internet, advancing pro-consumer and online video friendly policies including no usage-based billing and no additional modem fees. Charter will also offer an industry leading high speed broadband for low income families and seniors. Having demonstrated that the pending transactions with Time Warner Cable and Bright House Networks are squarely in the public interest, Charter remains confident they will close in a timely fashion.
"We are grateful to the Board of Public Utilities and its staff, as well as the State of New Jersey Division of the Rate Counsel for their hard work during this important review process," said Adam Falk, senior vice president, state government affairs for Charter Communications. "The New Jersey BPU approval is another important step towards closing our transactions. We are very pleased with the confidence in our company and our commitments to our future customers demonstrated by the actions taken today."
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