NY Approves $55 Billion Charter-Time Warner Cable Deal

Originally Appeared in Times Union
By Larry Rulison
January 8, 2016

The state Public Service Commission on Friday approved Charter Communication’s $55 billion deal to acquire Time Warner Cable, a move that will pave the way for faster Internet speeds for all New Yorkers and more availability of high-speed Internet access across the state.

Under the draft order that the commissioners approved Friday Charter would be required to provide Internet, TV and phone services to all homes within the current Time Warner Cable service territory – including rural areas – and it would be required to provide 300 Mbps Internet speeds to all New Yorkers by 2019. Time Warner Cable already offers 300 Mbps speeds in New York City.

The expansion would mean expanding service to 145,000 customers in the Time Warner Cable footprint that currently are not served by Time Warner Cable.

The “net benefit” to New Yorkers will be $1 billion, according to the commission.

A special meeting of the PSC was held to vote on the deal Friday.

Only three of the four PSC commissioners were available to vote, which was approved unanimously, 3-0. Commissioner Patricia Acampora was not able to make the meeting, but she supported approval of the deal with the conditions.

Read the full article here.