On May 6th 2016, the FCC officially approved Charter Communications' bid to buy Time Warner Cable. The deal also includes the purchase of Bright House Networks which is based in New York. The two companies were purchased for $55.1 billion and $10.4 billion respectively. The merger will make Charter the second largest cable and internet company in the US, behind Comcast.
The deal was approved by the FCC with certain conditions, and it still has to be approved by regulators in California. The conditions were imposed in order to prevent the new company from "erecting barriers to video competition." Under the terms of the agreement, Charter can't charge online video streaming services for improved content delivery.
Charter will also not be allowed to implement any policies that would prevent online video providers from delivering content through Charter's networks. And, Charter will have to expand it's high-speed broadband service to two million more homes. Charter originally made its deal with Time Warner in 2015, after a Comcast bid for Time Warner fell through.
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