Regulators approve Charter-Time Warner Cable merger2016-04-27 01:35 by Daniela
U.S. regulators have officially approved Charter-Time Warner Cable merger. Charter Communications will buy Time Warner Cable and Bright House Networks for $65.5 billion and the combined company will be the second-largest broadband provider in the United States (following Comcast).
After the merger, the company will have to abide by several conditions that the FCC and the Department of Justice have set. These conditions aim to protect online video services. The company has to be data cap-free for seven years, and shouldn't impede new streaming services from TV networks.
"The cumulative impact of these conditions will be to provide additional protection for new forms of video programming services offered over the Internet," Tom Wheeler, chairman of the F.C.C., said in a statement.
According to him, there would be an independent monitor to ensure compliance with the conditions. Both Charter and Time Warner Cable expressed their hope that the deal would be completed soon.
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