FCC likely to approve Charter-Time Warner Cable merger2016-03-17 03:00 by Daniela
Tags: FCC, Charter, Time Warner Cable
According to recent reports from the The Wall Street Journal, the Federal Communications Commission is close to approving Charter's purchase of Time Warner Cable. It is expected that the FCC Chairman Tom Wheeler will circulate a draft of his approval order this week.
There are a few conditions though. It's expected that the draft order will require Charter to upgrade broadband speeds in homes across the US. Wheeler also wants to prevent Charter from including clauses in pay-TV contracts that limit a content company's ability to offer its programming online or to new entrants.
Both, the Federal Communications Commission and the U.S. Justice Department must approve the $55 billion deal that would make Charter the nation's second-largest cable TV and Internet service provider.
In addition to Time Warner Cable, Charter is also poised to acquire the smaller Bright House Networks for $10.4 billion, bringing the enlarged company's subscriber count to 17.3 million video subscribers and 19.4 million broadband subs.
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