New York City Approves Time Warner Cable-Charter Merger

Originally appeared in Bloomberg Business
March 9, 2016

Charter Communications Inc. won approval from New York City to acquire Time Warner Cable Inc., inching closer to becoming the second-largest cable operator in the country.

The city’s Franchise and Concession Review Committee approved the transfer of its contracts between the companies during a public meeting on Wednesday. New York state’s Public Service Commission regulators had given the deal a green light in January after Charter committed to increase broadband speeds, expand network access in low-income communities and improve customer service. The city’s approval came after a separate review process to determine if the acquisition is in the public interest.

“We are pleased that this merger between Charter and Time Warner Cable is moving forward in a way that ensures they will meet all franchise obligations, and as well as the conditions set forth by the PSC –- and advocated for by the city –- with respect to broadband speed, cost, and availability and job protections,” Maya Wiley, counsel to the mayor, said in a statement Wednesday.

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