New York threatens to revoke Charter’s purchase of Time Warner Cable

Enlarge / A Charter Spectrum vehicle. (credit: Charter)

The New York State Public Service Commission today ordered Charter Communications to pay a $2 million fine and complete network construction that was required as a condition of Charter’s purchase of Time Warner Cable.

If Charter doesn’t meet its merger-related obligations, the company will “face the risk of having the merger revoked,” the commission said in an announcement. The commission said that state law gives it the authority to rescind merger approvals and threatened to start a proceeding to rescind or change the merger approval order if Charter refuses to comply.

The threatened action could reverse Charter’s 2016 purchase of Time Warner Cable’s telecommunications network in New York, although Charter would likely contest such a decision in court. (This would not affect the merger in other states.)

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Source: Ars Technica – New York threatens to revoke Charter’s purchase of Time Warner Cable

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