Disclosing details of its early regulatory meetings with the FCC in the run up to review of the $57 billion Time Warner Cable (NYSE: TWC) merger, Charter Communications (NASDAQ: CHTR) said new FCC net neutrality laws will not restrict investments made in its network.
"[President and CEO Tom] Rutledge agreed that the commission's decision to reclassify broadband Internet access under Title II has not altered Charter's approach of investing significantly in its network to deliver cutting edge services including: the fastest entry level broadband service (60 Mbps) with unlimited usage; out-of-home Wi-Fi hotspots; a state-of-the art, cloud based user guide, allowing search and discovery across linear, VOD and online content; open, nonproprietary downloadable security; and an innovative video app with hundreds of live and downloadable channels and the ability to display over-the-top content seamlessly on the television," reads a Charter FCC filing, disclosing details about the meeting between Rutledge and FCC chairman Tom Wheeler.
The tone of Rutledge's remarks differs sharply from that he struck several months ago, when he compared the brand-new net neutrality laws to a "shotgun pointed at the head" of the cable industry.
Otherwise, Rutledge assured Wheeler that the so-called "New Charter"--which will also combine the wherewithal of Bright House Networks--will be all about preserving competition, not harming it.
"Mr. Rutledge explained that the transactions will bring substantial consumer benefits, including providing a better Internet experience for watching online video, gaming, and using other data-hungry apps at more competitive prices, and that the mergers will not harm competition," the brief reads.
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