Bloomberg News

FCC Chairman Says Agency Should Approve Verizon Airwaves Deal

August 16, 2012

Federal Communications Commission Chairman Julius Genachowski proposed approving Verizon Wireless’s $3.6 billion purchase of airwaves from cable companies led by Comcast Corp. (CMCSA:US) and Time Warner Cable Inc. (TWC:US)

Genachowski, a Democrat, said in an e-mail statement that conditions in an antitrust settlement with the Justice Department mean the transaction “will promote the public interest and benefit consumers in several ways.”

“I believe the commission should now approve this transaction,” Genachowski said.

To contact the reporter on this story: Todd Shields in Washington at tshields3@bloomberg.net

To contact the editor responsible for this story: Bob Drummond at bdrummond@bloomberg.net


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Companies Mentioned

  • CMCSA
    (Comcast Corp)
    • $54.63 USD
    • 0.81
    • 1.48%
  • TWC
    (Time Warner Cable Inc)
    • $149.15 USD
    • 2.70
    • 1.81%
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