Charter: New York State Approves Time Warner Cable Deal

Charter said that New York has approved its proposed merger with Time Warner Cable. Charter hailed the approval as putting it in a "strong position" as it tries to get the Federal Communications Commission to follow suit. The commission has paused the informal shot clock on its review of the merger, but that appears to be related to the holidays and time to review new document submissions rather than a signal of any issue. Stoppages of the 180-day clock are not unusual in merger reviews.

New York's approval comes with new commitments on high-speed broadband—60 Mbps as a minimum offfering and 300 Mbps throughout the state, building out more unserved residential and commercial areas, and investing in and improving customer service, Charter said. “This is a significant step forward, not only for Charter but also for our future customers, and we are very happy to have obtained this approval from the New York State PSC,” said Tom Rutledge, president and CEO of Charter.