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Regulators OK Charter's buy of Time Warner Cable

Posted at 4:08 PM, Jan 08, 2016
and last updated 2016-01-08 20:35:17-05

Regulators have approved telecommunications company Charter Communications' purchase of Time Warner Cable's New York subsidiaries while requiring new service commitments from it.

Charter Communications says the commitments include providing minimum Internet data transfer speed of 300 megabits per second statewide in 2019. The Public Service Commission says that should benefit 2 million broadband customers upstate since Time Warner's highest speed north of New York City is 50 Mbps.

Stamford, Connecticut-based Charter says it will build out service networks to reach other homes and businesses in the territory.

The expansion is expected to deliver broadband to 145,000 customers not now served by New York-based Time Warner, which provides Internet, cable television and phone services.

The commission unanimously approved transfer of control of subsidiaries and franchises, reorganization and financing arrangements.

Charter's $57 billion acquisition of Time Warner is subject to federal approval.

 

 
 

 

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