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Report: Charter/Time Warner Cable deal gets majority FCC approval

Charter CommunicationsInc.'s plannedacquisitions of and has wonapproval from a majority of the FCC, Reuters reported May 5, citing two sourceswith knowledge of the matter.

FCC Chairman Tom Wheeler and the U.S. Department of Justice bothrecently recommended conditionalapproval of the mega-transactions, which would create the second-largest broadbandprovider in the country behind ComcastCorp. FCC Commissioners Jessica Rosenworcel and Michael O'Rielly alsovoted in favor of the deals in the week of May 2. The two remaining commissionershave yet to cast their vote on the deals, according to the report.

The conditions, effective for seven years after the acquisitionsclose, focus on ensuring online video distributors continue to have fair accessto programming. The newly merged Charter would be prohibited from entering intocontracts that limit a programmer's ability to distribute content to online videodistributors.

Charter expects to close the transactions a few days after receivingfinal approval from theCalifornia Public Utilities Commission and the FCC. The California PUC is expectedmake its decision by May12.