The Federal Communications Commission has determined that AT&T’s $48.5 billion bid to acquire DirectTV is in the public interest.
The merger of the nation’s second largest wireless carrier with the top satellite TV provider was approved Friday by the majority of the FCC’s commissioners, though certain conditions must be met.
AT&T-DirecTV will be required to expand deployment of high-speed internet access as well as offer broadband services at discounted rates to low-income consumers. The new company will also be prohibited from discriminating against the data of online video services, a central tenet of network neutrality.
“The proposed order outlines a number of conditions that will directly benefit consumers by bringing more competition to the broadband marketplace,” said FCC Chair Tom Wheeler in a statement.
AT&T-DirecTV will be the world’s largest pay-TV provider with some 26 million TV customers in the U.S., a massive entertainment market the company acknowledges is moving beyond the living room.
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SOURCE: Buzzfeed, Hamza Shaban