[telecom] NYS to Charter/Spectrum: bad company, no donut

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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]

<http://www3.dps.ny.gov/pscweb/WebFileRoom.nsf/ArticlesByCategory/1F6E451203ADF727852582D7005F8520 /$File/pr18060.pdf?OpenElement>

_____________________________________________________
Knowledge may be power, but communications is the key
               dannyb@panix.com
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