Charter Communications officially acquired TWC on 18 May 2016. However, officials said that the customers of TWC won’t see any changes right away. In this regard, a Connecticut based Charter service provider said that it is planning to introduce customer friendly policies, such as no modem lease fees and Spectrum brand products.
Charter completed the deal worth $55.1 billion purchase after a year it was announced. Charter got the final regulatory approvals of the purchase only this month. The acquisition puts an end to a turbulent period for TWC, which included a planned sale to Comcast that was dropped in April 2015 after government opposed it. Charter also plans to change the name of Time Warner Cable, which according to them, has consistently posted lower customer satisfaction ratings.
Charter also bought Bright House networks recently. These two acquisitions would make Charter the second largest cable provider in 41 states with more than 25 million customers. Customers would see the company’s Spectrum brand, product enhancements, and new packages in a while and Charter would directly let them know about it.
“While we believe customers will see our packages as more compelling and a better value, if a (Time Warner Cable) or (Bright House Networks) customer likes the package they are currently in, they will be able to stay in that package,” said Justin Venech, Vice President, Charter Communications.
When it comes to customer satisfaction surveys, the cable and broadband provider industry generally performs poorly. But Charter has shown a better performance than TWC in terms of TV service.
In the subscription TV category, Charter received a 63 on a 100-point scale by the American Customer Satisfaction Index in 2015. It was better than TWC’s score of 51, the lowest of any company in the index. However, TWC received a 58 compared to Charter’s 57 score, when it came to internet service.
TWC told its employees in Charlotte that an unspecified number of finance functions would be relocated to St. Louis, Stamford, and Denver. Going forward Charter will be adding an additional 20,000 jobs. The company would be led by Charter CEO, Tom Rutledge.