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US Justice Dept Approves Charter’s Time Warner Cable Purchase With Conditions

An anonymous reader quotes a report from Reuters: The U.S. Justice Department has approved Charter Communications Inc’s proposed purchase of Time Warner Cable Inc and Bright House networks, which would create the second-largest broadband provider and third largest video-provider. The Justice Department valued the purchase of Time Warner Cable at $78 billion and Bright House at $10.4 billion. Under terms, New Charter has agreed to refrain from telling its content providers that they cannot also sell shows online. The deal must also be approved by the Federal Communications Commission. FCC Chairman Tom Wheeler said Monday he circulated an order seeking approval of the merger with conditions that “will directly benefit consumers by bringing and protecting competition to the video marketplace and increasing broadband deployment.”


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