PSC rescinds Charter - Time Warner merger approval

30 July, 2018, 02:33 | Author: Sheri Evans
  • Warner Cable truck in New York

NY regulators revoked their approval of Charter Communications Inc.'s merger with Time Warner Cable Inc. on Friday and ordered the company to find another cable provider for its more than 2 million customers in the state.

Big quote: "These recurring failures led the Commission to the broader conclusion that the company was not interested in being a good corporate citizen and that the Commission could no longer in good faith and conscience allow it to operate in NY".

Experts have reported that Charter Communications is going to be putting an appeal to the order made by the state of NY, though it likely will not be flipped over; it looks like Charter Communications is going out and never coming back in.

At an unrelated news conference after the decision, Cuomo said Charter had repeatedly refused the state's efforts to hold it responsible. It must file a plan within 60 days to ensure an "orderly transition to a successor" provider or providers for NY customers. "Charter's noncompliance and brazenly disrespectful behavior toward NY state and its customers necessitates the actions taken today seeking court-ordered penalties for its failures, and revoking the Charter merger approval".

CBS CEO Les Moonves faces sexual misconduct investigation
That made him one of the highest-paid CEOs in the country past year , according to an Equilar review of S&P 500 companies. Forbes estimates Moonves' net worth at $700 million and calls him one of the highest paid CEOs in the United States.

In addition to rescinding its approval of the Charter and Time Warner merger, the commission also filed an enforcement action in the New York State Supreme Court to seek $3 million in penalties for past failures and continuing noncompliance.

The commission is giving Charter 60 days to come up with an exit plan from NY and has ordered the firm to pay $3 million in penalties. The cable company completed its $67 billion purchase of Time Warner Cable and Bright House Networks in May 2016. "To ensure that Charter's customers are not negatively affected during that process, the commission further ordered the company to maintain service to the company's more than 2 million customers in NY until an orderly transition occurs".

Charter has 30 days to appeal the commission's decision to revoke its agreement to the merger.

The reversal, handed down Friday by the New York State Public Service Commission, means that Spectrum could soon be forced to spin off its Time Warner Cable division in New York, potentially affecting more than 2.5 million subscribers across the state.

Cloud cover set to block Northern Ireland's view of rare blood moon
The Moon will turn red only at the highest point of the total lunar eclipse , which starts around 1 AM on the night of July 28. A lunar eclipse is when the sunlight's path to the moon is blocked by the Earth, with the moon falling in the Earth's shadow .

"Its failure to meet its June 18, 2018 target by more than 40 percent is only the most recent example", the PCS said.

According to the PSC, not only has Charter failed to meet the conditions of the approval, the company also has claimed it is not bound by the terms of the approval. New York Gov. Andrew Cuomo has not shied away from criticizing Charter for its delays; in May, he foreshadowed regulators' decision by saying the public service commission had initiated "legal action" against the company.

"I am pleased that the PSC is taking these serious concerns to heart, and is looking out for the hundreds of thousands of Spectrum customers across the state being shortchanged when it comes to cable and Internet service", he added.

Find the entire decision, go to www.dps.ny.gov, choose "Commission Documents" and enter Case Number 15-M-0388 in the box labeled "Search for Case/Matter Number".

Facebook plunges more than 24 percent on revenue miss and projected slowdown
The ad sales portion of revenue hit $13 billion in the second quarter, good for a gain of 42 percent from the year prior. In this March 29 photo, the logo for Facebook appears on screens at the Nasdaq MarketSite in New York's Times Square.

Recommended:

  • PSG boss Thomas Tuchel launches attack on Gunners after defeat

    PSG boss Thomas Tuchel launches attack on Gunners after defeat

    Lacazette completed his brace and made it 3-1 to the Gunners in the 71st minute with another header that sailed in off the post. The Gunners are now in Singapore , where they will take on French giants Paris Saint-Germain in a friendly on Saturday.
    Dutch halt Viagra in pregnancy trial after 11 babies die

    Dutch halt Viagra in pregnancy trial after 11 babies die

    They're two of four global trials. 32-year-old Vicki bradco English, Manchester gave birth to twins with a difference in 12 days. Previous clinical trials in the U.K., Australia, and New Zealand did not find any evidence that the intervention was harmful.
    UFC star Conor McGregor pleads guilty over NY  brawl

    UFC star Conor McGregor pleads guilty over NY brawl

    MMAJunkie reports McGregor will undergo five days of community service and between one and three days of anger management classes. McGregor agreed a plea deal stemming from charges following a melee at a UFC media event at the Barclay's Center in NY .
  • Mugabe will not vote for ZANU PF

    Mugabe will not vote for ZANU PF

    Zimbabwe's Robert Mugabe has emerged to address the nation hours before Monday's historic election, declaring: 'I will not vote for those who have illegally taken power'.
    Hamels on being a Cub:

    Hamels on being a Cub: "It's a dream come true"

    In the midst of a relatively weak trade market for starting pitching, the Cubs were one of the teams pursuing Blue Jays lefty J.A. The Cubs got the left-hander Friday, trading pitchers Eddie Butler and Rollie Lacy and a player to be named to Texas.
    Chris Froome’s climb and punishment as Geraint Thomas rises in Sky

    Chris Froome’s climb and punishment as Geraint Thomas rises in Sky

    He took a few minutes to get checked by race officials and medical staffs before getting back on his bike to finish the stage. Saturday's individual time trial will determine the final standings ahead of Sunday's parade to the Champs-Elysees.
  • Liverpool new-boy Xherdan Shaqiri not bothered by Neville brothers' criticism

    Liverpool new-boy Xherdan Shaqiri not bothered by Neville brothers' criticism

    Xherdan Shaqiri believes that Liverpool is capable of going one step further and winning the Champions League this season. It's going to be a long season and an important season to try to be successful.
    Geraint Thomas effectively seals 1st Tour de France victory

    Geraint Thomas effectively seals 1st Tour de France victory

    The performance of Geraint Thomas in this year's Tour de France may signal the end of the Chris Froome era as we know it. But he at least salvaged a podium finish after dropping to fourth overall following Friday's last mountain stage.
    Blood Moon: Best places to see Blood Moon 2018 REVEALED

    Blood Moon: Best places to see Blood Moon 2018 REVEALED

    Mr Kirkley said that the sunrise would begin during the eclipse which would "wash out" the colours of the moon as it turned red. As it rises, during this total eclipse , Earth's natural satellite will turn a striking shade of red or ruddy brown.
  • How to see Mars opposition and blood moon eclipse with no telescope

    How to see Mars opposition and blood moon eclipse with no telescope

    Mars made its closest approach to Earth in almost 60,000 years back in 2003, when its center was 34,646,418 miles from Earth's. However, there is a global dust storm obscuring the red planet that could continue through August and into September.
    Trump threatens 'large sanctions' against Turkey over jailed pastor

    Trump threatens 'large sanctions' against Turkey over jailed pastor

    USA pastor Andrew Brunson reacts as he arrives at his home after being released from the prison in Izmir, Turkey, July 25, 2018. The threat of sanctions caused a small dip in Turkey's financial markets Thursday morning, Reuters reports .
    Unai Emery in the dark over Ivan Gazidis’ future with Arsenal

    Unai Emery in the dark over Ivan Gazidis’ future with Arsenal

    Emery (right) was appointed as Arsenal head coach in May. "It's a very good squad on paper and I'm confident for this season". The Gunners and Atletico will stay in Singapore for the rest of July to play one more match.


Popular

'Blood moon' across the globe
According to NASA scientists: "The exact colour that the moon appears depends on the amount of dust and clouds in the atmosphere". Thousands of people will be able to see the total eclipse when the full moon slips into the Earth's shadow .

Israel to declare Gaza protest killings ‘operational mishaps’
Attacks against Israelis in the West Bank are supported by many Palestinians as pushing back against settlement growth. On Friday an Israeli soldier was shot dead, sparking a fierce wave of bombing that ratcheted up fears of another war.

Priyanka Chopra and Nick Jonas are reportedly engaged
Jonas popped the question to Chopra last week in London around the time of her 36th birthday, People reports. First come love, then comes a proposal, then comes a proposal celebration with Joe Jonas and Sophie Turner.

Prevention, vaccine and everything else you should know about hepatitis
Eliminating hepatitis C from pakistan is achievable target if combined efforts are made in the right direction. Most of the times, people ignore the symptoms and receive treatment in the later stages of the infection.

Trump hits back at Cohen and ‘fake news’ over Tower meeting allegations
Rudy Giuliani , an attorney for Trump, dismissed the idea of intimidating witnesses via Twitter . Cohen is "trying to make a deal, no doubt about it", Giuliani also said.

Tour de France Stage 19 results: Primoz Roglic wins
Safe in the knowledge Quintana was unlikely to claw back his overnight deficit of almost four minutes, Sky let the Colombian go. But given the length of the time trial this year, Dumoulin might need to make up time on Friday to have a chance on Saturday.

Alex Jones suspended from Facebook over bullying and hate speech
Facebook slammed radio host and conspiracy theorist Alex Jones with a 30-day block, according to a report Friday. The videos, which included a clip of a man pushing a child to the ground, were posted on Jones' Infowars website.

Syrian fighter jet is shot down by Israel
They were even filmed with weapons to support the government's narrative they work closely with the armed groups, he said. A United Nations peacekeeping force was deployed in the region in 1974, when a demilitarised buffer zone was established.

The Deadwood Movie Is Actually, Definitely, Finally Happening at HBO
We'll find out more about the final season of Game of Thrones as we get closer to its premiere sometime in 2019. Now, it looks like, those issues have been resolved, with the show's many stars set to return for the film.

Millions vote in Pakistan's violence-marred elections
Polling took place in the country's 85,307 polling stations, out of which 17,007 were declared as "highly sensitive". Mariyum Aurangzeb said: "the PML-N categorically rejects the election results". "They've become touts for the PTI".