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.
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