PSC revokes Charter's authorization to operate in state
29 July, 2018, 16:40 | Author: Lydia Fleming
The New York State Public Service Commission (PSC) today voted to revoke its approval of Charter Communications' 2016 purchase of Time Warner Cable (TWC). Mr. Wu previously worked as the NY attorney general's senior enforcement counsel and battled Charter over an investigation into internet speeds. One solution could see Charter spinning off its NY division; it's also possible that the division could be sold to someone else.
"It's high time NY cut the cord with Spectrum Cable and provided residents with more competition".
"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", the commission said in a press release.
"Charter must ensure no interruption in service is experienced by customers, and, in the event that Charter does not do so, the commission will take further steps, including seeking injunctive relief in Supreme Court in order to protect NY consumers", the Public Service Commission said in a prepared statement.
The PSC accused Charter of repeatedly failing to meet deadlines, not filling its obligations to serve rural communities and "purposeful obfuscation of its performance".
Build out its network to reach 145,000 un-served or under-served homes and businesses within four years of the closing of the merger in four equal phases of 36,250 per year.
That pledge was one of the "most critical" conditions attached to the merger approval, the commission argued in an order posted online Friday.
A Time Warner Cable sign and logo are seen on a Time Warner Cable store in the Manhattan borough of New York City, May 26, 2015.
"The Company has had multiple opportunities to correct these issues and either has not done so or has been openly brazen in its efforts to avoid them", the commission said. The company said it has extended its advanced broadband network to more than 86,000 NY homes and businesses since the merger agreement and is focused on continuing that work. In September 2017, PSC and Charter reached a settlement worth up to $13 million that revised the buildout schedule and imposed a $1 million penalty (drawn from the $13 million settlement) for each target Charter missed.
Under the order, Charter has 60 days to come up with a "transition" plan complying with the commission's decision.
A spokesman for the NYPSC didn't respond to requests for comment.
Charter is the largest cable provider in the state.
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