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".

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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.

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"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, choose "Commission Documents" and enter Case Number 15-M-0388 in the box labeled "Search for Case/Matter Number".

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