US FCC green lights Verizon Wireless' cable spectrum deal

Reuters News
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Posted: Aug 23, 2012 3:40 PM
US FCC green lights Verizon Wireless' cable spectrum deal

WASHINGTON (Reuters) - The U.S. Federal Communications Commission on Thursday approved Verizon Wireless' proposal to purchase $3.9 billion of airwaves from big cable providers.

The agency concluded its review after the Department of Justice cleared the way last week for the deal to move forward with constraints on the companies' marketing agreements.

Verizon Wireless, a joint venture of Verizon Communications <VZ.N> and Vodafone Group Plc <VOD.L>, last December proposed to buy wireless airwaves from cable companies including Comcast Corp <CMCSA.O> and Time Warner Cable Inc <TWC.N>.

(Reporting by Jasmin Melvin; Editing by Gary Hill)