New York, Charter reach settlement
Charter Communications and the New York Public Service Commission reached a settlement in their long-running feud over expansion of the company's Spectrum network that includes an additional $12 million to finance high-speed internet expansion in the state. The agreement will cost Charter more than $600 million — double the original cost of its required expansion in the state as a result of its 2016 purchase of Time Warner Cable. The deal sets Charter's current network expansion at 64,827 "passings," which means how many new addresses its network can now reach. The company has until Sept. 30, 2021 to reach 145,000 addresses. Charter will also set up a $6 million fund that it will use to pay for additional expansion of its network beyond the 145,000 addresses. It will also set up a second $6 million fund that the state will use to fund additional broadband internet expansion across the state by Charter and other companies.
PSC, Charter reach settlement