Charter Communications, operating as Spectrum in New York, has reached a deal with the State of New York that will allow the ISP to remain serving its customers. The tentative deal comes after New York sued the company and Charter signed a $174 million settlement.
The New York State Public Service Commission had effectively booted Spectrum from the state, and revoked its approval of Spectrum's merger with Time Warner Cable. As of Friday, both sides appear to have reached an agreement.
The new arrangement will see Charter investing in an even more significant broadband build out -- to the tune of an additional 145,000 homes and businesses in upstate New York. According to the commission, this means Charter will have to double its initial investment in the area. Pursuant to the agreement, Charter will also spend $12 million for broadband expansion projects in certain upstate areas, undetermined as of yet.
In order to retain compliance, Charter will need to complete the build out by Sept. 30, 2021. According to Charter, the deal is neither an admission of any violation or a penalty. The deal will still have to be approved by the Public Service Commission at large, and undergo a 60-day comment period.