New York Regulators Finally Approve Time Warner Cable Charter Deal Imposing Certain Conditions

New York Regulators Finally Approve Time Warner Cable Charter Deal Imposing Certain ConditionsOn Friday, finally the state regulators voted to approve the merger of Time Warner Cable and Charter Communications at a proposed value of $55 billion.

In a unanimous vote, the state Public Service Commission approved an order which will permit the mega-deal including the two leading cable operators.

The approval of the sales deal was used by the regulatory board to impose certain conditions which are aimed at increasing and broadband Internet speed especially in the rural areas presently underserved.

Currently across New York, Time Warner has 2.6 million subscribers for cable television, phone and Internet. It also includes the New York City and the largest cities of the upstate.

Audrey Zibelman, chair of the Public Service Commission said "I'm hopeful with all of these conditions; we really are going to be in a position that in the next several years, we're going to see all New Yorkers have access to well- priced, high-speed, modern Internet services."

According to the order, the Charter is required to offer 100 mbps Internet speeds by the 2018's close and 300 mbps in the following year. It also requires growing the Internet service area which will include 145,000 residential units which right now do not have access to broadband.

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