Charter, Oceanic TWC Submit Merger Application
Charter Communications, Inc. and Time Warner Cable, Inc. have submitted an application to the state Department of Commerce and Consumer Affairs’ Cable Television Division, seeking approval of the indirect transfer of control of Oceanic’s six cable television franchises statewide, pursuant to the merger transaction between Charter and TWC.
Included in the application is Charter and TWC’s request for approval of the proposed financing mechanism that is necessary to complete the transaction proposed in the application, as well as the acquisition of Bright House Networks, LLC, that does not operate or have subsidiaries in Hawai’i.
Charter and TWC believe the merger will result in a variety of positive effects, including a growth in jobs and investments. Faster internet at a better value, increased innovation, quicker rollout of advanced video technology, and additional public benefits are also among the positive ripples that could be seen with the proposed merge.
The companies say they are committed to the protection of a “free and open internet” and further investment in infrastructure and customer service, along with a broadband program for low-income consumers.
“We will thoroughly review the application and all related information regarding the proposed transaction to determine if it’s in the public interest,” said CATV Administrator Ji Sook “Lisa” Kim.
CATV has 120 days from the date of the application’s filing to review the paperwork and issue a decision. If the division doesn’t take action during the 120-day period, the application will go through as approved, unless a deadline extension is agreed upon.
During its review, CATV will request additional information and issue potential clarification questions should the need arise. Cable Advisory Committee members and the general public may also be asked for input and comments.
Additional information regarding the proposed transaction will be made available online at the CCA website as it becomes available.