FCC OKs Charter's TWC/BHN Deal

It's nearly official - the FCC has approved Charter Communications' (NASDAQ:CHTR) bid to acquire Time Warner Cable (NYSE:TWC) and ...

Charter pumping $1 billion into biz fiber net
Charter pumping $1 billion into biz fiber net
It's nearly official - the FCC has approved Charter Communications' (NASDAQ:CHTR) bid to acquire Time Warner Cable (NYSE:TWC) and Bright House Networks. The California Public Utilities Commission has yet to OK the deal; that vote is scheduled for May 12.

The on again, off again transaction, which began in January 2014, includes a number of conditions that have not yet been released, but can be expected to follow those that FCC Chairman Tom Wheeler spelled out in late April in a proposed order recommending approval. Those proposed conditions, to last seven years, include:

  • No usage-based prices or data caps
  • No interconnection fees, including to online video providers
  • No video programming terms that could harm OVDs
  • An independent monitor to help ensure compliance
  • The FCC expects to release an order detailing the conditions in the coming days.

"I want to thank Chairman Wheeler and Commissioners Clyburn, Rosenworcel, Pai and O'Rielly for their thorough review of these transactions," said Charter President and CEO Tom Rutledge in a statement. "The significant benefits of these transactions are clear; greater competition, more consumer and OTT friendly broadband policies, broader access to affordable broadband, and added U.S. jobs. The conditions are largely extensions of the longstanding consumer friendly values and practices of our company, and based on the commitments we put forward during the review process. Charter will be a stronger competitor in the broadband and video markets, well positioned to deliver these benefits and more to consumers."

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