PSC-30-15-00003-P Petition to Transfer and Merge Systems, Franchises and Assets and Issue Debt

7/29/15 N.Y. St. Reg. PSC-30-15-00003-P

NEW YORK STATE REGISTER

VOLUME XXXVII, ISSUE 30

July 29, 2015

RULE MAKING ACTIVITIES

PUBLIC SERVICE COMMISSION

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. PSC-30-15-00003-P

Petition to Transfer and Merge Systems, Franchises and Assets and Issue Debt

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

The Commission is considering whether to grant, deny, modify or condition, in whole or in part, the merger petition of Charter and Time Warner requesting approval to transfer telephone and cable systems, franchises and assets and the issuance of debt.

Statutory authority:

Public Service Law, sections 99(2), 100(1), 101 and 222

Subject:

Petition to transfer and merge systems, franchises and assets and issue debt.

Purpose:

To consider the Charter and Time Warner Cable merger and transfer of systems, franchises and assets and issuance of debt.

Substance of proposed rule:

The Public Service Commission is considering whether to grant, deny or modify, in whole or part, the petition filed by Charter Communications Inc. (Charter) and Time Warner Cable Inc. (Time Warner Cable) seeking approval under Public Service Law (PSL) § § 99, 100, 101 and 222 to transfer certain Time Warner Cable telephone systems, cable systems, franchises and assets to Charter. Under the proposed transaction, Charter has entered into an agreement with Time Warner Cable whereby Charter, through a series of internal mergers and reorganizations will acquire 100 percent of Time Warner Cable’s equity through a new entity, New Charter, in exchange for New Charter Class A shares. Charter also intends to issue debt as part of the proposed transaction. Under the proposed transaction Charter plans to retain all of Time Warner Cable’s existing assets in New York State. The full text of the petition may be reviewed online at the Department of Public Service web page: www.dps.ny.gov. The Commission may take such further action as deemed warranted.

Text of proposed rule and any required statements and analyses may be obtained by filing a Document Request Form (F-96) located on our website http://www.dps.ny.gov/f96dir.htm. For questions, contact:

Elaine Agresta, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Kathleen H. Burgess, Secretary, Public Service Commission, 3 Empire State Plaza, Albany, New York 12223-1350, [phone], email: [e-mail]

Public comment will be received until:

45 days after publication of this notice.

Regulatory Impact Statement, Regulatory Flexibility Analysis, Rural Area Flexibility Analysis and Job Impact Statement

Statements and analyses are not submitted with this notice because the proposed rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.

(15-M-0388SP1)