PSC approves Cox interest in Charter NY, $123M investment
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PSC approves Cox interest in Charter NY, $123M investment
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PSC Approves Cox’s Indirect, Non-Controlling Interest in Charter’s New York Cable and Telephone Operating Companies
Companies Commit to Invest at Least $123 Million in New York Transaction Supported by Several Community Groups ALBANY — The New York State Public Service Commission (Commission) today conditionally approved the transfer of control of a minority interest in several New York telecommunications and cable subsidiaries of Charter Communications Inc. (Charter) to Cox Enterprises Inc. (Cox). As a result, the petitioners must invest at least $100 million to upgrade its network to be capable of offering symmetric internet access service with speeds up to 1/1 Gigabit per second (Gbps) throughout its New York service territory, replace at least 500 outdoor Wi-Fi access points in the state to which it will offer free, non-customer access, and fund digital inclusion and community initiatives.
“This transaction will result in stronger telecommunication and cable markets in New York State,” said Commission Chair Rory M. Christian. “Further, the transaction will be seamless to customers as it is not expected to cause any change to New York residential, business, or enterprise customers’ telecommunications or cable services or service provider. It is a win for the telecommunication companies and a win for consumers.”
The Commission’s approval today will allow Cox to acquire indirect minority ownership interest in Charter Fiberlink NY-CCO, LLC; Time Warner Cable Information Services (New York), LLC d/b/a Time Warner Cable; Time Warner Cable Business, LLC d/b/a Time Warner Cable; Spectrum Northeast, LLC; and Spectrum New York Metro, LLC.
The Albany NAACP and the Southern Queens Park Association are among the groups voicing support for the transaction. Charter and its affiliates serve a large portion of the state, including major cities like New York City, Albany, and Rochester. Commission approval is also conditioned upon other requirements including a total investment of $3 million to bring broadband service to unserved shelter locations, and commitments for consumer protection, broadband affordability, digital inclusion and community investment, employment, service quality, and nondiscrimination.
Today’s decision may be obtained by going to the Commission Documents section of the Commission’s website at www.dps.ny.gov and entering Case Number 25-M-0466 in the input box labeled "Search for Case/Matter Number". Many libraries offer free Internet access. Commission documents may also be obtained from the Commission’s Files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500). If you have difficulty understanding English, please call us at 1-800-342-3377 for free language assistance services regarding this press release.
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26031/25-M-0466
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