FCC Approves Verizon's Spectrum Purchase From Cable Companies

As expected, the Federal Communications Commission approved Verizon's plan to spectrum for $3.9 billion from four cable companies -- Comcast, Time Warner Cable, Bright House Networks and Cox Communications. The Department of Justice signed off on the deal last week, but with conditions. Among others, Verizon won't be able to sell any cable company products in areas where it has already deployed FiOS.

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