TWC, Charter File Joint Petitions With New York, California Utility Commissions

Charter Communications and Time Warner Cable asked the New York Public Service Commission and the California Public Utilities Commission to accept a transfer of indirect ultimate control of TWC to Charter, said documents filed with the New York and California commissions. The transaction doesn't involve a transfer of customers or any changes in regulated rates, terms or conditions of service, and the petition doesn't seek authority to change customers' regulated rates or terms, the New York filing said. The transaction will provide improved voice and other nonjurisdictional services at better values, and offer more competition for enterprise customers, said the California filing. Charter said the transaction won't be harmful or reduce competition in the state.