FCC chairman, Justice Department sign off on Charter's takeover of Time Warner Cable

April 25, 2016 7:40 PM

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Federal Communications Commission Chairman Tom Wheeler has recommended approval of Charter Communications' $78-billion acquisition of Time Warner Cable, subject to several conditions aimed at increasing the number of homes with high-speed Internet connections.

The U.S. Justice Department, which separately scrutinized the transaction to make sure that it did not violate antitrust laws, on Monday said it would allow the deal to move forward. The Justice Department agreement also covers Charter's $10.4-billion take-over of Bright House Networks.

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