New York state revokes approval of Charter-Time Warner Cable deal

Reuters 

By Sheila and Rai

The commission said the U.S. provider failed to live up to its agreement as part of the merger to build to an additional 145,000 households and businesses in rural areas of under-served by

Charter said in a statement that its "has extended the reach of our advanced network to more than 86,000 homes and businesses since our merger agreement" with the Public Service Commission, and is working to deliver to more New Yorkers.

The commission said it will begin a special proceeding or action in the to seek penalties for Charter's violations.

Charter has 30 days to appeal the commission's decision to revoke its agreement to the merger.

A Charter did not respond to requests for further comment.

"The Company has had multiple opportunities to correct these issues and either has not done so or has been openly brazen in its efforts to avoid them," the commission said.

The commission gave the company two months to find a new cable provider to replace its operations.

(Reporting by in Bengaluru and Sheila in New York; Editing by Shounak Dasgupta, and Will Dunham)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, July 28 2018. 01:36 IST