FCC majority backs Charter purchase of Time Warner Cable

Reuters News
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Posted: May 05, 2016 11:51 AM

WASHINGTON (Reuters) - A majority of the five-member U.S. Federal Communications Commission has voted to approve Charter Communications Inc <CHTR.O> acquisition of Time Warner Cable Inc <TWC.N> and Bright House networks, which would create the second-largest U.S. broadband provider and third-largest video provider, two sources briefed on the matter said Thursday.

FCC Commissioners Jessica Rosenworcel and Michael O'Rielly earlier this week joined FCC chairman Tom Wheeler in voting to approve the deals, the sources said. O'Rielly dissented in part, meaning the final conditions of the approval could change before the full vote is completed and made public. The U.S. Justice Department approved the acquisitions with conditions on April 25.

(Reporting by David Shepardson; Editing by Chizu Nomiyama)