AT&T Broadband-Comcast Merger Wins Approval
FCC's 3-1 VOTE WILL PAVE WAY FOR LARGEST CABLE CO
Today, Nov. 13, the Federal Communications Commission voted 3-1 to approve the $29.2 billion merger of AT&T Broadband and Comcast.
The new company, AT&T Comcast, would become the nation's largest cable company, with 22.3 million subscribers. It would control 29 percent of the market and have nearly twice as many customers as AOL Time Warner.
The FCC's approval was contingent on AT&T and Comcast selling their combined, 25 percent ownership of Time Warner Entertainment.
Approval from the FCC was the final regulatory hurdle for the companies. The companies announced last month that as operations are merged, 1,700 jobs would be cut at AT&T Broadband's Englewood, CO, headquarters.
