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New York Reviewing Comcast, Time Warner Merger
By Joe Gullo
ALBANY, N.Y. - New York Governor Andrew Cuomo announced that the New York State Public Service Board will conduct a thorough and detailed investigation into the proposed Comcast merger with Time Warner Cable.
The board will determine whether the proposed merger will be in the best interest of Time Warner's New York customers and the state as a whole.
"The Public Service Commission's actions will help protect consumers by demanding company commitments to strong service quality, affordability, and availability," Gov. Cuomo said.
In April, Governor Cuomo signed a new law strengthening the state's cable franchise law. The changes, under the new law, puts the burden on companies who to merge to demonstrate that the move will be in public interest.
On February 13, 2014, Comcast announced an agreement with Time Warner Cable to merge. The deal was valued at approximately $45.2 billion.
Time Warner Cable provides digital cable television, broadband internet and VoIP telephone service to approximately 2.6 million subscribers in New York State.