Deals
New York City Approves Time Warner Cable-Charter Merger
- Charter commits to diversity, public access initiatives
- Approval follows OK from New York state regulators in January
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Charter Communications Inc. won approval from New York City to acquire Time Warner Cable Inc., inching closer to becoming the second-largest cable operator in the country.
The city’s Franchise and Concession Review Committee approved the transfer of its contracts between the companies during a public meeting on Wednesday. New York state’s Public Service Commission regulators had given the deal a green light in January after Charter committed to increase broadband speeds, expand network access in low-income communities and improve customer service. The city’s approval came after a separate review process to determine if the acquisition is in the public interest.