PSC Approves Sale Of Time Warner Cable; Mandates Better Service In Upstate NY
The $55-billion sale of Time Warner Cable's New York services was unanimously approved by the state Public Service Commission on Friday, reports the Rochester Democrat and Chronicle.
To approve the deal, though, the PSC did require Charter Communications to offer enhanced service in upstate New York:
The order requires Charter to offer Internet speeds of 100 mbps by the end of 2018 and 300 mbps by the following year, while expanding its Internet service area to include 145,000 residential units that currently don’t have broadband access.
As it stands, Time Warner offers speeds of up to 300 mbps in the New York City area, but only 50 mbps in the rest of the state.
The approval also says Charter would have to honor TWC's current base-internet package for $14.99 a month for the next two years for new customers, and for three years for current subscribers. There are additional restrictions on how far Charter could reduce its customer service workforce.
Charter Communications has seven days to decide if it will comply with the PSC's stipulations.
Time Warner Cable current has more than 2.5 million cable, internet and phone subscribers in New York State.