Complete Story
 

04/26/2016

Federal regulators allow Charter to move ahead with its massive takeover of Time Warner Cable

Federal regulators are allowing Charter Communications to move ahead with its $78.7 billion takeover of Time Warner Cable, a massive deal that would create the second-largest cable and Internet provider in the country.

The move also means Charter can purchase Bright House Networks for $10.4 billion. The combined company would instantly become a powerhouse in the telecommunications industry with about 24 million customers in regions such as New York, Dallas, central Florida, Detroit, and Los Angeles.

Washington plans to put several conditions on the merger that will last for seven years and aim to enhance competition in online video and broadband service. For instance, the combined company would be prevented from fashioning agreements with companies such as Netflix and other streaming services that force them to pay a fee to reach consumers' devices. The merged firm also would be prohibited from imposing data caps on home Internet service which could discourage watching videos online.

Click here for the rest of the story.

Printer-Friendly Version