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Business/Economy

NY's broadband settlement with Charter approved

New York regulators have approved a settlement with Charter Communications resolving a dispute over rural broadband. The state's Public Service Commission endorsed the deal Thursday.

Under the terms, Charter must follow through on promises to provide broadband to 145,000 upstate customers an investment estimated to exceed $600 million, and pay the state $12 million for other broadband projects. 

Regulators voted last year to rescind approval for Charter's 2016 merger with Time Warner Cable following concerns it wasn't meeting promises to expand high-speed internet. 

Charter previously said the settlement would prevent the possibility of a costly legal battle. On Thursday, the company released this statement:

"We’re pleased the PSC has approved the agreement, and we look forward to continuing to serve our customers and expanding the availability of high-speed broadband in New York State. We thank the PSC, Chairman Rhodes, the commissioners and staff for working with us throughout this process."

The Stamford, CT-based Charter, which does business as Spectrum, agreed last year to give refunds and free services to settle allegations that Time Warner had not delivered promised internet speeds.

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