Albany, N.Y. - The New York State Public Service Commission today revoked its approval of the 2016 merger agreement between Charter Communications and Time Warner Cable, Inc.
The PSC said it was because Charter, doing business as Spectrum, has in the PSC's words made clear that it has no intention of providing the public benefits upon which the Commission's based their approval.
The Commission determined that Charter failed to deliver the benefits to New Yorkers that were at the core of the merger approval such as :
- The company’s repeated failures to meet deadlines.
- Charter’s attempts to skirt obligations to serve rural communities.
- Unsafe practices in the field.
- Its failure to fully commit to its obligations under the 2016 merger agreement.
- The company’s purposeful obfuscation of its performance and compliance obligations to the Commission and its customers.
The commission also is asking its legal counsel to bring an action in State Supreme Court to seek additional penalties for Charter's past failures and ongoing non-compliance.
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