(Credit: CNET Roger Cheng)
Verizon Wireless and a consortium of cable operators, which includes Comcast, Time Warner Cable, and Bright House Communications, today won approval from U.S. regulators to go through with their $3.9 billion deal to exchange wireless spectrum.
But the agencies have put minor conditions on the sale. The Federal Communications Commission is requiring Verizon to divest some of its wireless spectrum. And the Department of Justice negotiated a deal in which the cable companies and Verizon agreed to limit the scope of their co-marketing and resale agreements.
"By limiting the scope and duration of the commercial agreements among Verizon and the cable companies while at the same time allowing Verizon and T-Mobile to proceed with their spectrum acquisitions, the department has provided the right remedy for competition and consumers," Joseph Wayland, acting assistant attorney general in charge of the DOJ's Antitrust Division, said in a statement. "The Antitrust Division's enforcement action ensures that robust competition between Verizon and the cable companies continues now and in the future as technological change alters the telecommunications landscape."
More to come.
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