FCC close to approving AT&T's DirecTV merger2015-07-22 10:24 by DanielaTags: FCC, AT&T, DirecTV
AT&T is one step closer to acquiring DirecTV. According to people familiar with the matter, FCC Chairman Tom Wheeler has asked fellow commissioners to approve AT&T's $48.5 billion acquisition of DirecTV. To win regulatory approval for the deal, AT&T has agreed to stricter Net neutrality rules and a promise to expand its fiber-optic-based broadband network to more customers. "The proposed order outlines a number of conditions that will directly benefit consumers by bringing more competition in the broadband marketplace," Wheeler wrote. In May 2014, AT&T announced that it wants to buy DirecTV in order to expand its television service presence nationally and to be more competitive. Once the merger is complete, AT&T would have about 26 million TV customers, among which its own 6 million U-Verse TV subscribers and DirecTV's 20 million satellite TV service. Executives from both companies met with the agency last month to discuss the terms of the deal, and it's widely expected to pass both FCC and Justice Department review without trouble. Read more -here-
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