
(credit: Ildar Sagdejev)
Charter gained approval of its Time Warner Cable acquisition from New York state regulators today in exchange for providing 300Mbps speeds to all customers by 2019 and continuation of a cheap (but very slow) entry-level Internet service.
The state Public Service Commission voted 3-0 to approve the merger today, the Times Union of Albany reported. Charter's proposed $56.7 billion acquisition of TWC still needs approval from the Federal Communications Commission, but Charter had to gain approval for license transfers in states where TWC operates as well. TWC is also headquartered in New York City.
TWC already offers 300Mbps speeds in New York City and other major metro areas, and the combined company would have to offer that speed throughout its New York service area under the merger approval. TWC charges $64.99 a month for its 300Mbps downstream and 20Mbps upstream package in New York City, though that price is only good for the first 12 months a customer has service.






