The FCC approved the merger of Charter Communications, Time Warner Cable Inc. and acquisition of Bright House Networks.
Charter said it agreed to a number of conditions as part of the FCC approval. Many of the conditions either codified or reflected specific commitments Charter offered proactively at the beginning of the transaction review process, including no data caps or usage-based billing, a commitment to build out high-speed broadband service to unserved and underserved customers, the fastest low-income broadband program of any major service provider, and settlement-free peering.
The California Public Utilities Commission vote is scheduled for May 12th, following last month’s recommendation for approval from the California Administrative Law Judge.
Charter to Acquire Time Warner Cable, Bright House
Charter Communications agreed to acquire Time Warner Cable in a deal valued at $78.7 billion. In addition, Charter and Advance/Newhouse Partnership amended an earlier merger deal (announced March 31) to allow for the three-way combination reate a leading broadband services and technology company serving 23.9 million customers in 41 states. Liberty Broadband has agreed to purchase, upon closing of the Time Warner Cable transaction, $4.3 billion of newly issued shares of New Charter.