IT

NY moves to break up Charter’s merger with Time Warner Cable

NY moves to break up Charter’s merger with Time Warner Cable

The PSC said it is ordering Charter to sell the former TWC system that it purchased in NY, and it's "bring [ing] an enforcement action in State Supreme Court to seek additional penalties for Charter's past failures and ongoing non-compliance".

As a result, the New York State Public Service Commission revoked the approval of the merger.

The Public Service Commission gave Charter 60 days submit a plan to hand over its NY operations to a new cable, internet and phone provider, rescinding the state's previous approval of the major cable merger. The Commission also requires $3 million in penalties from the company.

The commission said the company has failed to meet several deadlines in achieving these goals.

Spectrum is owned by Charter Communications, which merged with Time Warner Cable. The company must provide uninterrupted service while the state transitions to a new service provider, the commission said.

Today in a move many didn't think would happen NY ordered Chater to leave the state.

Charter was given 60 days to file a plan for a successor company take over operations that serve 2 million customers in the state.

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Charter says it has extended broadband service to 86,000 homes and businesses.

PSC Chairman John Rhodes said Charter is "simply not serving New Yorkers".

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.

"In the weeks leading up to an election, rhetoric often becomes politically charged", Charter said in a statement Friday.

Charter's statement did not say whether it will appeal the PSC decision, or whether it will comply with the PSC's order to sell the former Time Warner Cable system in NY. But the fact is that Spectrum has extended the reach of our advanced broadband network to more than 86,000 NY homes and businesses since our merger agreement with the (commission).

The state Public Service Commission on Friday claimed the company is not meeting public benefit conditions agreed to in 2016. What is just as bad is that thousands of New Yorkers who are waiting for the broadband access Spectrum keeps advertising it is providing are still stuck with 20th Century technology. We'll see how Charter responds and what actually comes of this, but with more than 2 million subscribers to Charter in NY, it's going to have a major impact on the television and internet landscape there.