Charter Communications closed its acquisitions of Time Warner Cable and Bright House Networks on Wednesday after many months of obtaining regulatory OKs — not to mention dodging vociferous opposition from groups like Stop Mega Cable. The combined company will serve 25 million customers in 41 states.
The FCC gave the deal a green light last week and that announcement was quickly followed by a go-ahead from California regulators marking the last necessary regulatory step. Conditions were imposed on the deal, which are covered in the article here.
Charter will phase out the Time Warner Cable name, a company spokesperson told Bloomberg News. Included in the rebranding effort is Bright House Networks.
In a statement, Charter says the completion of the transactions will drive investment into the combined advanced broadband network, and it promises faster broadband speeds, better video products, more affordable phone service and more competition for consumers and businesses. “Charter’s network and product investments combined with its consumer friendly operating strategy will also lead to faster customer and financial growth, enhancing career development opportunities for its employees and driving value for shareholders,” the statement continues.
In the very short term, current TWC and Bright House subscribers won’t see changes immediately, Charter’s Chairman and CEO Tom Rutledge notes. “Though in the coming months they will begin to hear more from us about the Spectrum brand, and the product improvements and consumer friendly policies that come with it,” Rutledge says. “Charter’s objective is to provide high-quality products at great prices, and back it up with excellent customer service, and we intend to continually improve the way we do business in order to be the very best at what we do.”