Charter For Time Warner Merger Stalls In NY

Digital Trends reported that the New York Public Service Commission has withdrawn its approval of the Charter Communications and Time Warner Cable merger. According to a PSC release, the revocation is for a specific cause. The PSC says Spectrum, the name of the merged entity, failed to deliver specific benefits to New Yorkers that were among the conditions upon which the merger was approved.
In addition to rescinding its approval of the Charter and Time Warner merger, the commission also filed an enforcement action in the New York State Supreme Court. They seek $3 million in penalties for past failures and continuing noncompliance.