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Charter in $13M settlement with New York State over TWC deal

Published 09/15/2017, 03:05 PM
© Reuters.  Charter in $13M settlement with New York State over TWC deal
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  • New York State has finalized a $13M settlement with Charter Communications (CHTR -1.7%) tied to last year's acquisition of Time Warner Cable.
  • The state had set a condition on the deal that Charter pursue network expansion to "unserved and underserved communities" by the end of 2019.
  • But the company's not proceeding at the agreed pace, the Public Service Commission says, and it's collecting $1M in grants and $12M as security against a new set of deadline running to May 2020.
  • Now read: Apple (NASDAQ:AAPL) and Dell join Bain's bid for Toshiba chip unit


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