The Department of Justice and the Federal Communications Commission announced Thursday the approval of the deal between Verizon and a consortium of cable companies. But there are conditions.
Verizon Wireless and a consortium of cable operators, which includes Comcast, Time Warner Cable, and Bright House Communications, got approval from regulators on Thursday to go through with their $3.9 billion deal to exchange wireless spectrum.
But the agencies have put minor conditions on the sale. The FCC is requiring Verizon to divest some of its wireless spectrum. And the DOJ 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 Department of Justice'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."
Stay tuned for a more detailed update on what those conditions are.
