US: FCC eliminates Obama-era Charter merger condition

The Federal Communications Commission on reversed a major condition of last year’s $65 billion merger between Charter Communications, Time Warner Cable and Bright House Networks that would have required the new company to compete against ISPs in certain markets.

It’s just the latest move by President Donald Trump’s FCC to reverse Obama-era regulations.

The former condition required Charter, which acquired the other two cable companies, to provide broadband access to 2 million additional households, and 1 million of those homes had to already have broadband access through a competitor.

The new order eliminates the requirement that Charter “overbuild” in areas where competitors operate, according to Reuters, which first reported the vote. It still requires buildout to 2 million homes, except now all 2 million must be to unserved customers.

“My top priority is making sure that any American who wants high-speed Internet access is able to get it. Today, we take another step toward achieving that goal,” FCC Chairman Ajit Pai said Monday in a statement.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.