Constitution acquisition of Time Warner Cable authorised by the FCC
It seems like perpetually since Time Warner Cable agreed to merge with Constitution Communications, for an estimated $fifty five billion. However at present, almost a yr after the 2 corporations struck a deal, the Federal Communications Fee has lastly granted its approval. The announcement follows FCC Chairman Tom Wheeler and the US Justice Division inexperienced-lighting the merger in April, which confirmed that it was solely a matter of time earlier than it turned official.
It is value noting that Constitution can also be buying Vibrant Home Networks, a regional TV and web supplier, as a part of the settlement between it and the federal government. Moreover, final month Wheeler revealed there can be some caveats for Constitution, together with not being have the ability to impede entry to streaming content material. Specifically, Constitution cannot set knowledge caps for subscribers or cost for service based mostly on utilization — and there is perhaps extra compromises.
An in depth launch of the circumstances for the merger shall be launched over the approaching days, in accordance with a press release from the FCC. However, this positions Constitution because the second largest cable and web service within the US with 24 million subscribers complete, proper behind Comcast’s 28 million.
Persistence pays off, people.