The Justice Department and the FCC have approved Charter’s proposed takeover of Time Warner Cable.
Shares of both companies moved higher after initial reports that the DOJ was about to approve the deal.
The FCC also gave the greenlight to Charter’s acquisition of Bright House Networks, in deals that would bring more consolidation to the broadband industry.
Among the conditions of the deal are that Charter would not be allowed to impose prices and data caps based on usage, and it cannot limit access to streaming video.
Both companies would account for 34% of the US cable broadband market, according to BI Intelligence. As cable companies grapple with declining TV subscriptions, a solid broadband unit should help the combined company give customers what they really want these days — on-demand, customisable content.
More to come …
Business Insider Emails & Alerts
Site highlights each day to your inbox.