Time Warner Cable’s recent rate increases has made some waves and led some to incorrectly believe our transaction with Time Warner Cable will lead to higher prices for consumers. First, Time Warner Cable is still an independent company. We found out about their news at the same time as Time Warner Cable’s customers. Second and much more important, Charter’s core principle is offering superior services with more customer friendly pricing and packaging. So the future is bright for existing Time Warner Cable customers.
At Charter, we pride ourselves on being a different kind of cable company. That means we don’t add on common industry fees like early termination fees or sports charges. We also don’t charge a modem lease fee. Time Warner Cable just raised their modem lease fee to $10. We don’t make our customers sign annual contracts, nor do we impose usage-based billing and costly data caps. By bringing all of our call centers back to the U.S. and offering one hour service windows, we are working hard to improve our customer service.
We offer our customers a significantly faster minimum broadband speed at a better value. In upstate New York, for example, Time Warner Cable customers can currently purchase broadband at 50 Mbps for $79.99 per month. Charter offers our customers a faster, 60 Mbps service for just $39.99, without the $10 modem fee. After the merger is finalized and Charter takes all Time Warner Cable customers fully digital, we will offer all New Charter customers our higher minimum speeds at a better value.
We continue to work with regulators and expect to receive all necessary approvals in due course. We look forward to bringing these many benefits to current Time Warner Cable and Bright House Network customers, and to all the future customers of New Charter.