New York orders Charter out of state, says it must sell Time Warner Cable system
The New York State Public Service Commission voted to revoke its approval of Charter Communications' 2016 purchase of Time Warner Cable. The PSC said it is ordering Charter to sell the former TWC system that it purchased in New York, and it's "bring[ing] an enforcement action in State Supreme Court to seek additional penalties for Charter's past failures and ongoing noncompliance." Charter has repeatedly failed to meet deadlines for broadband expansions that were required in exchange for merger approval, state officials said. The PSC has steadily increased the pressure on Charter with fines and threats, but Charter never agreed to changes demanded by state officials. The PSC said:
Charter is ordered to file within 60 days a plan with the Commission to ensure an orderly transition to a successor provider(s). During the transition process, Charter must continue to comply with all local franchises it holds in New York State and all obligations under the Public Service Law and the Commission regulations. Charter must ensure no interruption in service is experienced by customers, and, in the event that Charter does not do so, the Commission will take further steps, including seeking injunctive relief in Supreme Court in order to protect New York consumers.
NY orders Charter out of state, says it must sell Time Warner Cable system New York moves to break up Charter’s merger with Time Warner Cable (Washington Post)