News Brief

Comcast Allowed to Buy AT&T Broadband

Convinced that the deal would not pose harm to consumers in any market and would promote the rollout of high-speed Internet service, the U.S. Federal Communications Commission (FCC) yesterday granted cable operator Comcast Corp. permission to buy the nation's No. 1 cable TV operator AT&T Broadband for $30.5 billion, creating a pay television giant with nearly 27 million subscribers. The new entity will be called AT&T Comcast. The approval came despite opposition of consumer groups, who argued the deal would lead to higher prices and dominate the market, taking 40% of the cable market and 30% of the pay television market. The U.S. Justice Department's antitrust division said it would not challenge the deal.
Recommend (2) Print RSS
All content published by MediaPost is determined by our editors 100% in the interest of our readers ... independent of advertising, sponsorships or other considerations.