FCC approves Comcast buy of AT&T Broadband

The Federal Communications Commission granted Comcast permission to acquire rival AT&T Broadband Wednesday, clearing the way for the creation of the largest cable company in the U.S., boasting more than 27 million subscribers.

The FCC approved the proposed buy without restrictions or conditions, an AT&T spokeswoman confirmed.

The company is "very pleased with the FCC's approval," said James Cicconi, AT&T general counsel and executive vice president of law and government affairs, in a statement. "This represents a major milestone in delivering quality broadband services to consumers and value to our share owners."

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The Federal Communications Commission granted Comcast permission to acquire rival AT&T Broadband Wednesday, clearing the way for the creation of the largest cable company in the U.S., boasting more than 27 million subscribers.

The FCC approved the proposed buy without restrictions or conditions, an AT&T spokeswoman confirmed.

The company is "very pleased with the FCC's approval," said James Cicconi, AT&T general counsel and executive vice president of law and government affairs, in a statement. "This represents a major milestone in delivering quality broadband services to consumers and value to our share owners."

"The FCC gave green lights on every single issue," said independent analyst Jeff Kagan. Comcast and AT&T "did and said all the right things, and today it paid off, big time."

Although executives from both companies did not give an exact date when the transaction would close, saying that it would be completed "shortly," sources close to the matter say that the deal could be complete as early as next week.

The IDG News Service is a Network World affiliate.