قالب وردپرس درنا توس
Home / Business / PSC, Charter reach settlement – Times Union

PSC, Charter reach settlement – Times Union




Albany

Charter Communications and the Public Service Commission reached a settlement on Friday in their long-standing sweep over the expansion of the company's Spectrum network, which includes an additional $ 12 million to fund high-speed Internet expansion in the state.


In reality, the deal will cost Charter more than $ 600 million – doubling the initial cost of the required expansion in the state following the 2016 acquisition of Time Warner Cable.

"Today (PSC employees) jointly filed a proposed agreement with Charter Communications to resolve disputes over the network extensions imposed by the Public Service Commission," said PSC leader John Rhodes in a statement. "If approved (by the Commission ), the proposed agreement will allow the parties to proceed with the critical work of extending broadband access. "In July, KS voted to revoke Charter's license to operate in the state after KSR found that the charter had violated the 2016- The acquisition of Time Warner Cable's New York operations During the PSC's approval of the agreement, Charter was required to expand its Spectrum cable TV and Internet network to 145,000 potential customers in state-owned high-speed internet services.

KSK had argued that the Charter was misleading to the Commission on its progress on the extension and including addresses that already had high-speed internet access like New York City.


Charter denied the charges and launched a promotional campaign that only upset PSC leader John Rhodes, a Gov employee. Andrew Cuomo.

KSR voted on July 27 to revoke the approval of the Charter-Time Warner Cable Agreement and commissioned the Charter to come up with a half-month plan to end the state and sell its Spectrum network.

However, the two sides have been negotiating since right after the vote to try to keep the charter operating in the state.

On Friday, the terms of the settlement were filed with KSK, which still has to approve the term s.

The agreement sets out the Charter's current network extension of 64,827 "passes", which means how many new addresses the network can now reach. Up to September 30, 2021, the company has reached 145,000 addresses.

The original price of the Charter expansion was estimated at $ 305 million. But with stricter requirements outlined in the agreement, the expansion will cost twice as much.


"As a result of this agreement, the Charter estimates that the Charter
will spend more than twice the amount originally estimated by the Commission as the public benefit of the network expansion state, and will bring high-speed broadband to over 145,000 homes and businesses in Upstate New York. "Charter and PSC employees wrote to KS in a letter following the decision.


Charter will also set up a $ 6 million fund that it will use to pay for further expansion of the network beyond the 145,000 addresses. It will also set up a second $ 6 million fund that the state will use to fund additional broadband expansion across the state by Charter and other companies.

"Charter and PSC believe that this action is an important step forward in making high-speed broadband available to all New York citizens," said Charter spokesman Andrew Russell. "It allows the parties to move forward with the critical work of expanding access broadband, by resolving their disagreements without the need for costly litigation. As a result, Charter will invest even more money in New York State than originally planned, economic and social benefits of high-speed broadband to areas where access is often limited. "


Source link