FCC Greenlights Sale of Adelphia Assets

17 July 2006

WASHINGTON, DC - The Federal Communications Commission last week approved a $17 billion (€13.45bn; £9.26bn) deal to sell the assets of bankrupt cable operator Adelphia Communications to Comcast Corporation and Time Warner Cable, removing the last regulatory hurdle to the transaction.

The FCC's approval on a 4-to-1 vote imposed conditions. Philadelphia-based Comcast and Time Warner, headquartered in New York, were prohibited from engaging in tactics that would effectively make regional sports programming unavailable to rivals, like satellite TV.

Said the decision's lone dissenter, Democrat commissioner Michael J Copps: "This decision is about big media getting bigger with consumers holding the bag."