NY state revokes approval of Charter-Time Warner Cable deal

NY state revokes approval of Charter-Time Warner Cable deal

New York's public service commission is trying to remove Spectrum, the state's largest TV and Internet service provider, because it allegedly reneged on commitments and has failed to properly serve customers.

"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 regulators wrote in a press release. Following the state's public service commission saying Charter (doing business in the state as Spectrum) has "continually failed to meet its commitments to the state" (which were part of the approval for 2016's merger of Charter and Time Warner Cable) and threatening heavy penalties, they've unveiled those penalties, which include Spectrum being "no longer permitted to serve customers in the state".

The action by the Public Service Commission follows months of disagreements over the company's progress in meeting goals set by regulators in 2016 as a condition of their merger approval- especially an expansion of broadband to rural areas.

"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.

"In the weeks leading up to an election, rhetoric often becomes politically charged", spokeswoman Shelley Loo told The Post.

The company's purposeful obfuscation of its performance and compliance obligations to the Commission and its customers.

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Charter had agreed to bring its broadband network to 145,000 unserved or underserved homes in NY as a condition of its acquisition of Time Warner Cable.

On Friday, the commission said the company had blown past its deadlines to meet the scaled-back requirements, prompting the latest penalty. Charter's claims are simply false and the Commission will not stand idly by while Charter deceives the public and its shareholders.

The PSC has fined Spectrum Cable's parent company for repeatedly missing its broadband and network expansion targets, a condition of its merger with Time Warner Cable.

Under the order, Charter has 60 days to come up with a "transition" plan complying with the commission's decision. During the transition process, Charter must continue to comply with all local franchises it holds in NY state and all obligations under the Public Service Law and the Commission regulations.

A spokesman for the NYPSC didn't respond to requests for comment.

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