The press release sounds ominous. That piece of paper and $25 will get you a cup of coffee:
[Public Service Commission press release]PSC Rescinds Charter Merger Approval
PSC Takes Swift Action to Address Persistent Non-Compliance and Failure to Live Up to Promises; Seeks Financial Penalties for Charter's Past Failures
Albany - The New York State Public Service Commission (Commission) today revoked its approval of the 2016 merger agreement between Charter Communications, Inc. and Time Warner Cable, Inc. because Charter, doing business as Spectrum, has -- through word and deed -- made clear that it has no intention of providing the public benefits upon which the Commission's earlier approval was conditioned.
In addition, the Commission directed Commission counsel to bring an enforcement action in State Supreme Court to seek additional penalties for Charter's past failures and ongoing non-compliance. That enforcement action will be filed today in State Supreme Court in Albany. With its decision, the Commission determined that Charter failed to deliver the benefits to New Yorkers that were at the core of the merger approval. The various instances of misconduct include:
The company's repeated failures to meet deadlines;
Charter's attempts to skirt obligations to serve rural communities;
Unsafe practices in the field;
Its failure to fully commit to its obligations under the 2016 merger agreement; and
The company's purposeful obfuscation of its performance and compliance obligations to the Commission and its customers. ===== rest [pdf, ugly url]
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