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Charter, PSC fight could drag out
Aug 01, 2018 10:55 am
Larry Rulison reports in the Albany Times Union that Charter Communications CEO Thomas Rutledge says his company is ahead of schedule building out its high-speed Spectrum internet service in New York state to 145,000 underserved homes and businesses. The state Public Service Commission pulled its approval of a merger between Charter Communications and Time Warner on July 27, saying that Charter did not uphold its end of the deal. The PSC ordered the company to find a buyer for the Spectrum network, with 60 days to tell the PSC of its plans. The company could take the PSC to court to get a judge to reverse the decision. Rutledge told stock analysts during a July 31 conference call that Charter was prepared for a legal fight if necessary. "We believe we're in compliance with the plain reading and the buildout requirements that the state imposed on us in merger conditions, and we have a very strong legal case and ability to defend ourselves," Rutledge said. "And it could play out over a lengthy period of time if required." Read the full story in the Albany Times Union.