Last week, Verizon’s bid to purchase spectrum from cable companies got the nod from the Justice Department. Yesterday the FCC weighed in. Via Brendan Sasso of The Hill:
The Federal Communications Commission (FCC) has approved Verizon’s $3.6 billion purchase of cellular frequencies from the nation’s largest cable companies.
The five commissioners voted unanimously to approve the deal on Tuesday, and the order was publicly released on Thursday.
Approval didn’t come free from hitches, however:
FCC Chairman Julius Genachowski said the original deal “posed serious anti-competitive concerns and would not serve the public interest.” But he decided to approve it after the companies agreed to a series of concessions.
Genachowski argued that the “substantially modified transaction” will give customers access to more spectrum for mobile broadband, while preserving competition.