Meet the Churning Channels
Washington (AP) The Federal Communications Commission has given the green light to Charter Communications Inc., saying the company has made a compelling case to change its current structure.
The FCC vote was 8-1 in favor of allowing Charter to begin relocating some of its U.S. operations to a new headquarters, with FCC chairman Tom Wheeler calling it a “very positive step.”
Wheeler said the commission was looking to “create a new environment that would create a more stable and predictable marketplace.”
The agency has not yet set a timeline for the relocations.
The new headquarters will have two floors, but only one.
That will give Charter the ability to provide the most robust broadband network in the country, but also give the company a way to expand its footprint to a more geographically distributed footprint, Wheeler said.
Charter’s decision is the latest to take place in the telecom industry in the wake of President Donald Trump’s election.
The company has said it is committed to investing in research and development and will create hundreds of thousands of jobs in the U.M.
The agency is expected to take up the matter in a public hearing next month.
Chartered Communications Inc. said Wednesday it will spend $8.5 billion to create a new $4.6 billion headquarters.
The New York-based company said it would invest $4 billion in new facilities, expand its broadband network and hire more than 700 employees, and will invest $5 billion in facilities in Nevada and Georgia.