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PSC reverses decision on Charter/Time Warner deal
Jul 28, 2018 12:25 am
Leonard Greene at the New York Daily News reports that New York's 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. “Charter, doing business as Spectrum, has — through word and deed — made clear that it has no intention of providing the public benefits upon which the Commission's earlier approval was conditioned,” the PSC said in a statement. Charter bought Time Warner's cable holdings in 2016 and rebranded the company Spectrum. The commission approved the merger in 2016, but with the promise that Charter would expand broadband service in the state. The ruling says it failed to do that, and now bars Charter from operating in New York state. “In the weeks leading up to an election, rhetoric often becomes politically charged,” a Charter spokesperson said in a statement. “But the fact is that Spectrum has extended the reach of our advanced broadband network to more than 86,000 New York homes and businesses since our merger agreement with the PSC. Our 11,000 diverse and locally based workers, who serve millions of customers in the state every day, remain focused on delivering faster and better broadband to more New Yorkers, as we promised.” Read the full story at the New York Daily News.