FCC approves Charter, Time Warner Cable deal

The U.S. Federal Communications Commission confirmed on Friday that it had voted to approve Charter Communications Inc.’s acquisitions of Time Warner Cable Inc. and Bright House Networks.

The deals, which would create the second-largest U.S. broadband provider and third-largest video provider, now need approval from regulators in California. That decision is expected at a hearing Thursday.

Tom Rutledge, president and chief executive of Charter, said in a statement Friday that the transactions have “significant benefits” including greater competition, broader access to affordable broadband, and new U.S. jobs. The FCC-imposed conditions “are largely extensions of the longstanding consumer friendly values and practices of our company,” Rutledge said.

The Department of Justice valued Charter’s deal for Time Warner at $78 billion and acquisition of Bright House Networks at $10.4 billion.

Read more: St. Louis Post-Dispatch, St. Louis Business Journal

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