Charter Communications Inc. and Time Warner Cable Inc., the parent company of Oceanic Time Warner Cable, have applied for approval of the indirect transfer of control of Oceanic’s six cable television franchises statewide pursuant to the merger transaction between Charter and Time Warner Cable, Hawaii’s Department of Commerce and Consumer Affairs said Wednesday.
The application includes a request for the approval of the proposed financing mechanism needed to complete the proposed transaction. In addition, the proposed transaction involves the acquisition of Bright House Networks LLC, which does not have subsidiaries or operations in Hawaii, the DCCA’s Cable Television Division said.
Charter and TWC say the merger will result in new jobs and investments, faster Internet, and increased innovation. The companies noted their commitment to protecting “free and open Internet,” investment in infrastructure and broadband for low-income consumers.
Under federal law, the state has 120 days from the filing of the application and all information required by the terms of the franchise agreement or state law to review the application and issue a decision. If no action is taken within the 120-day period, the application will be considered approved, unless an agreement is reached to extend this deadline.
“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.
As part of its review, CATV will issue information requests and/or clarification questions, as applicable, and seek input and comments from the Cable Advisory Committee (CAC) members, and the general public. For this, CATV will hold a CAC meeting and statewide public hearings, details of which will be announced in the following weeks.
Information regarding the proposed transaction will be made available online at cca.hawaii.gov/catv/.