News Summary: Verizon-cable deals approved

AP News
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Posted: Aug 16, 2012 1:52 PM

APPROVAL: The Justice Department's antitrust division has approved Verizon Wireless's deals to buy spectrum from four of the nation's largest cable companies. Verizon Wireless is paying $3.9 billion for the spectrum, which will allow it to expand its high-speed wireless broadband network.

HESITATION: There were worries the deals would harm competition by reducing incentives to compete, resulting in higher prices and lower quality for the public.

THE CONDITIONS: To protect the public, Verizon Wireless stores won't be able to sell TV and broadband services from the cable companies in areas where Verizon sells its own TV and broadband service.