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FCC chairman proposes removing Charter/TWC merger condition

Feb. 23, 2017 11:39 PM ETCharter Communications, Inc. (CHTR) StockCHTRBy: Jason Aycock, SA News Editor
  • Charter Communications (NASDAQ:CHTR) may see a post-merger benefit from the new FCC, as new Chairman Ajit Pai has circulated an order reconsidering a condition imposed for taking over Time Warner Cable.
  • The provision in question called for "overbuild" -- for Charter to add 2M additional broadband homes, 1M of those already getting service from other companies as a way to increase competition for high-speed Internet.
  • Pai's order to grant a petition from the American Cable Association keeps the 2M-home requirement but allows for all of those to go to unserved homes rather than overbuild, should Charter choose to go that way.
  • Sources tell Broadcasting & Cable that Pai's motivation is to build to unserved homes rather than push competition, and he doesn't want overbuild to be a disincentive for Charter to push to unserved homes.
  • The order's in early stages and will need at least another vote to take effect.

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