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Photograph by Yvonne Hemsey/Getty Images

The New York State Public Service Commission revoked its approval of the 2016 merger between Charter Communications, Inc. and Time Warner Cable, Inc. because Charter failed to uphold the behavioral conditions it agreed to at the time of approval.

Why it matters: The revoked merger is a worst-case example of what can happen when a company does not uphold behavioral remedies, or promises, that it agreed to upon the clearance of the merger by the government. Other mergers, like AT&T's merger with Time Warner, were also cleared under behavioral provisions.

The Commission says Charter failed to deliver the public benefits that were core of the merger's approval, such as:

  • The company’s repeated failures to meet deadlines.
  • Charter’s attempts to skirt obligations to serve rural communities.
  • Unsafe practices in the field.
  • Its failure to fully commit to its obligations under the 2016 merger agreement.
  • The company’s purposeful obfuscation of its performance and compliance obligations to the Commission and its customers.
"These recurring failures led the Commission to the broader conclusion that the company was not interested in being a good corporate citizen and that the Commission could no longer in good faith and conscience allow it to operate in New York."
— Commission Chair John B. Rhodes in a statement

Go deeper

Updated 7 hours ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

7 hours ago - Politics & Policy

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.

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