News - FCC Approves Comcast-AT&T Cable Merger

Richard Forno rforno at
Wed Nov 13 21:39:48 UTC 2002


FCC Approves Comcast-AT&T Cable Merger

By David Ho
Associated Press Writer
Wednesday, November 13, 2002; 3:55 PM

The $29.2 billion merger of Comcast and AT&T Broadband was approved
by federal regulators Wednesday, clearing the way for creation of the
nation's largest cable television company.

The Federal Communications Commission decision is contingent on AT&T
and Comcast selling their combined 25 percent ownership of Time
Warner Entertainment.

The FCC voted 3-1 for the deal over the objections of consumer
groups, which filed a motion last week asking the agency to delay its
decision. The groups claim the new cable giant would limit customers'
choices in television viewing and Internet access.

But FCC Chairman Michael Powell said "the benefits of this
transaction are considerable, the potential harms negligible."


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