A new phase is brewing for Charter Communications as their claims were granted. It has been affirmed that FCC Chairman and the Justice Department favors Charter takeover Time Warner Cable.
According to LA Times, "Key federal regulators have signaled support for Charter Communications' $71-billion-plus acquisition of Time Warner Cable and Bright House Networks, subject to several conditions aimed at spurring competition among Internet service providers and increasing the number of homes with broadband Internet connections."
Federal Communications Commission Chairman Tom Wheeler affirmed that he would vote in favor of the deal, which is expected to dramatically reshape the pay-TV and Internet-service market in the U.S. In addition, Charter would become the largest Internet and cable TV provider in Southern California, with more than 2 million customer homes, according to the same post.
Moreover, the U.S. Justice Department, that oversaw the deal also affirmed and granted and rendered the proposed settlement with Charter as it implements new business dealings in various regions.
At the same time, there's nothing about this massive merger that serves the public interest. There's nothing about it that helps make the market for cable-TV and Internet services more affordable and competitive for Americans, said Craig Aaron, president of the nonprofit group Free Press.
Given the volatile market and unstable business industries, takeovers and change in management is a norm that most companies had to deal with. Even Intel has been reported to face company troubles as well, reports Jobs & Hire.
As the FCC Chairman and the Justice Department granted the deal for Charter Communications to takeover Time Warner Cable, it is forecast to initiate a new era of growth and development for the company.
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