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FTC clears Liberty Interactive/General Communication deal

The U.S. Federal Trade Commission OK'd Liberty Interactive Corp.'s planned acquisition of General Communication Inc.

The Commission on June 7 granted an early termination of the waiting period applicable to the deal under the Hart-Scott-Rodino Antitrust Improvements Act. The deal still requires an approval from the Federal Communications Commission.

Liberty Interactive in April struck a deal to buy the Alaskan cable operator in a transaction valued at $2.63 billion, and then merge General Communication with its unit Liberty Ventures Group. The merged entity will then be spun off as a new company named GCI Liberty.