Sunday, 19 August, 2018

Public Service Commission revokes Charter merger agreement with Time Warner Cable

Spectrum truck Spectrum has 30 days to contest an order to leave New York which was issued Friday by the state's public service commission
Kayla Schwartz | 28 July, 2018, 05:30

The 3-0 vote reflected the commission's displeasure with Charter - which provides cable TV, internet and phone service in NY state under the Spectrum name - for falling short of required broadband internet expansion in the state, especially in rural areas.

Friday's vote, if it survives any legal challenges that are filed, would bar Charter from operating in NY.

Regulators in NY are reneging on their approval of Charter Communications acquisition of Time Warner Cable, alleging the cable provider broke its promise to deliver high-speed broadband to rural customers.

Charter has engaged in "purposeful obfuscation" of its performance and compliance obligations, the commission said.

The commission directed Charter to file a plan within 60 days for an "orderly transition" for its customers in NY to another provider. "Charter's non-compliance and brazenly disrespectful behavior toward New York State and its customers necessitate the actions taken today seeking court-ordered penalties for its failures, and revoking the Charter merger approval".

The cable provider and the state are at odds over the rate at which the company has rolled out high-speed internet in less-densely populated areas of the state, which was a key provision in the state commission's approval of the $55 billion Time Warner Cable merger in 2016. And on Friday, the commission said it will seek to impose additional penalties.

Charter denies that claim, however, and has said it is ahead of schedule. Moreover, bringing in a new provider may cause further delays to the state's broadband goals, he added.

The disagreement comes down to which addresses should be counted.

Bitcoin slumps after United States regulators reject Winklevoss crypto exchange-traded fund, again
In filing for the ETF, BZX proposed a rule change with hopes that the new proposal would be accepted. The optimism responsible for this graph is probably the same driving the Winklevoss twins .

"Charter's repeated failures to serve New Yorkers and honor its commitments are well documented and are only getting worse", Commission Chair John Rhodes said.

In a statement, Charter spokesman Andrew Russell accused the commission's actions of being politically motivated.

Cuomo is up for re-election this year.

In a statement, Charter said the claims made by the commission were "politically charged" and tied to the state's election season. But the fact is that Spectrum has extended the reach of our advanced broadband network to more than 86,000 NY homes and businesses since our merger agreement with the (commission).

Today in a move many didn't think would happen NY ordered Chater to leave the state.

Charter must also ensure no interruption in service by customers and, in the event it does so, the PSC will take further steps, including seeking injunctive relief in Supreme Court in order to protect NY consumers.

The orders were approved by a 4-0 vote of the commission.

"It's actually sad for me to say that I can endorse this and I will be supporting it", Alesi said.

Recommended

  • Facebook's 20%, $120B 1-day stock drop worst in United States  history

    Facebook's 20%, $120B 1-day stock drop worst in United States history

    Facebook stock plummeted almost 20 percent Thursday in the largest one-day loss in history for any publicly traded company. "We're investing so much in security that it will significantly impact our profitability", Mark Zuckerberg said .

    GDP grew at 4.1% last quarter

    The U.S. central bank increased borrowing costs in June for the second time this year and forecast two more rate hikes for 2018. Consumer spending grew 4 percent, more than estimated, while nonresidential business investment climbed at a 7.3 percent clip.
    Cubs Acquire Cole Hamels From Rangers

    Cubs Acquire Cole Hamels From Rangers

    Hamels is making $23.5 million this season, and has a team option for $20 million with a $6 million buyout for next season. His differential in home-road splits is stark, as he has a 6.41 ERA in Rangers home games and a 2.93 ERA on the road.
  • PM Modi meets Chinese President Xi Jinping in Johannesburg, South Africa

    PM Modi meets Chinese President Xi Jinping in Johannesburg, South Africa

    The Summit seeks to strengthen the relationship between BRICS member states and Africa. The five countries' GDP is now more than 90 per cent the size of U.S. output.
    Nikki Bella makes savage reference to breakup with John Cena

    Nikki Bella makes savage reference to breakup with John Cena

    Nikki and Brie Bella - make an appearance on The Tonight Show Starring Jimmy Fallon on Wednesday (July 25) in New York City.
    Don't miss your date with century's longest Lunar Eclipse today..

    Don't miss your date with century's longest Lunar Eclipse today..

    Skywatchers around much of the world are looking forward to a complete lunar eclipse that will be the longest this century. Starting from 4am on the east coast of Australia, and from 2am in the west, the moon moves into the Earth's shadow.
  • Mars will NOT look as large as the moon tonight

    Mars will NOT look as large as the moon tonight

    People gather as they wait for the sun to go down and the appearance of the " Blood moon " in Berlin on July 27, 2018. The next lunar eclipse visible in Brunei will take place on July 17 next year, but it will be a partial one.
    'I did not know': Trump denies knowledge of 2016 meeting with Russians

    'I did not know': Trump denies knowledge of 2016 meeting with Russians

    Jr. responded, "if it's what you say, I love it", and started to arrange the meeting. Cohen is "trying to make a deal, no doubt about it", Giuliani also said.

    Disney "Incredibly Pleased" With Fox Studios Purchase

    Neither Disney CEO Bob Iger nor Fox co-executive chair Rupert Murdoch attended Friday's shareholder meetings. Both companies' investors reportedly approved in separate votes at the New York Hilton Midtown in Manhattan.
  • Potentially severe storms Friday could cause more flooding ahead of drier weekend

    Potentially severe storms Friday could cause more flooding ahead of drier weekend

    A steady flow of tropical moisture into North Carolina will keep our area in a wet weather pattern for the next several days. Floods also are responsible for about $6 billion in damage annually in this country, according to National Geographic.
    Alex Jones has been suspended from Facebook for 30 days

    Alex Jones has been suspended from Facebook for 30 days

    A 30-day ban, which Jones' personal account was issued in this case, is the result of multiple content violations. Variety reported that Facebook received reports on four different videos uploaded to Infowars' Facebook pages.
    Laos Dam collapse: How many are missing after flash floods hit villages?

    Laos Dam collapse: How many are missing after flash floods hit villages?

    The 410-megawatt dam was supposed to start commercial operations by 2019, according to the venture's website. The Royal Thai Embassy in Vientiane today will give 100,000 baht fund to Lao officials as financial support.

Twitter Stock Drops More than 18% in Morning Trading Twitter Stock Drops More than 18% in Morning Trading Twitter's relations with advertisers have been strained by concerns about phony accounts bought by users to boost their following. Dorsey said daily active users had growth 11%, but the company didn't break out figures.

Serena Williams hits out again at testing ‘discrimination’ Serena Williams hits out again at testing ‘discrimination’ Following her loss to Kerber, Williams said she had proven to herself that she could still compete to win Grand Slams . Individual figures for athletes tested through the Tennis Anti-Doping Programme are published at the end of each year.

Here's How to Stream the Blood Moon Here's How to Stream the Blood Moon People across the country -weather permitting - will be able to view a rare celestial event called a selenelion this morning. The next lunar eclipse visible in Brunei will take place on July 17 next year, but it will be a partial one.

Alaphilippe Floors Yates for second stage win Alaphilippe Floors Yates for second stage win Thomas, Froome, world champion Peter Sagan and other riders were treated with eye drops due to the tear gas amid a 15-minute delay.

Five charged over 'acid attack' on three-year-old UK boy Five charged over 'acid attack' on three-year-old UK boy Angela Channon, chairman of the bench, remanding the men into custody, told them they would appear next month at the crown court. The father of a boy who was the victim of a suspected acid attack is among five men who have appeared in court.

CBS probes misconduct claims against CEO Moonves amid legal battle CBS probes misconduct claims against CEO Moonves amid legal battle Today the portion of the board which is backing Moonves vowed to take any accusations of misconduct seriously. CBS added: "The timing of this report comes in the midst of the Company's very public legal dispute".

Klopp has no issue with Mourinho’s opinion on Liverpool Klopp has no issue with Mourinho’s opinion on Liverpool Asked whether he had to win the Premier League this season Klopp said: "I don't think so". He's obviously a top defender and it's a great person for me to learn off and emulate.

'No evidence to support' ISIS was behind Toronto attack 'No evidence to support' ISIS was behind Toronto attack Doug Ford hugs a man at the start of the march. "Gun violence in any part of our city is terrible and completely unacceptable". The deadly melee in the popular Toronto neighborhood has led to increased scrutiny of the city's gun violence.

Meghan, Duchess of Sussex's R68000 polo outift Meghan, Duchess of Sussex's R68000 polo outift And now another Royal rule that Meghan has to follow has come to light-and it's to do with her bedtime, or rather the Queen's. On the website you can see how many bags were purchased - before Meghan wore it there were 66 sold.

Vladimir Putin invites Donald Trump to Moscow Vladimir Putin and billionaire Mr Trump met in the Finnish capital Helsinki for a historic diplomatic summit earlier this month. He was talking to reporters aboard Air Force One as President Donald Trump headed back to Washington from Iowa and IL .

Century's longest total lunar eclipse will feature a micro moon Century's longest total lunar eclipse will feature a micro moon Viewers in the Middle East, eastern Africa, southern Asia and India will be in prime position to witness the entire eclipse . It is perfectly safe to eat and drink during eclipse , Ayurveda is a health science and it doesn't promote superstition.

Demare silences Tour de France critics as Thomas stays in yellow Demare silences Tour de France critics as Thomas stays in yellow Whether its an overall contender or stage-winning opportunist, it is a day that will surely entertain to the end. The great and unexpected contender Geraint Thomas is aiming to become the first Welshman to win the gala event.

Amazon’s Posts Third Consecutive Quarter Of Billion-Plus Profits Amazon’s Posts Third Consecutive Quarter Of Billion-Plus Profits Its purchase of Whole Foods Market last summer gave Amazon something it had long lacked: A nationwide network of physical stores. Investors initially cheered the results, sending the company's stock up as much as 4% in after-hours trading.

Kevin Durant says the media is "trying to make him look crazy" Kevin Durant says the media is Due to that, and his decision as a whole, he's been labeled "soft" and "sensitive". I just did your f****n podcast. "Snakes in the grass boy I tell ya".

Israel sends troops to West Bank after Palestinian kills settler Israel sends troops to West Bank after Palestinian kills settler More than 600,000 Jews live in about 140 settlements built since Israel's 1967 occupation of the West Bank and East Jerusalem. There was no response from Abbas's government, which has cut ties with the Trump administration over its stance on Israel.