The US Federal Communications Commission has voted to approve the proposed merger of Charter Communications and fellow pay-television operator Time Warner Cable, an agreement that is set to create the world’s second largest cable television and internet provider.
The FCC made the announcement on Friday. The USA Today newspaper stated that the five-member commission voted 4-1 in favour of the deal, with FCC commissioner Ajit Pai the sole person to vote against.
The vote comes after Tom Wheeler, chairman of the FCC, last month recommended that the regulator should approve the proposed merger. In May last year, Charter announced a deal to acquire TWC in an agreement valued at $78.7bn (€68.4bn). Charter said the deal, between the second and third largest cable-television operators in the US, would provide greater competition for market leader Comcast.
Wheeler’s recommendation to approve the merger came with several conditions that are instituted for up to seven years. The company must not impose usage-based pricing and cap customers’ monthly data use.
Charter also cannot charge online video streaming companies for improved delivery of content; nor institute policies that would prevent online video providers from delivering content to consumers through Charter’s networks or serve as retaliation against such providers.
TWC's sports properties include a 25-year deal, from 2014 to 2038, for the media rights to MLB baseball franchise the Los Angeles Dodgers.