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August 17, 2012 04:05 pm

Gov't Approves Parts of Verizon-Cable Spectrum Sale

fistfullast33l writes "The Associated Press is reporting that the Justice Department, FCC, and New York State Attorney General approved portions of a deal between Verizon Wireless and cable companies Comcast, Time Warner Cable, Bright House Networks and Cox to sell parts of the wireless spectrum to Verizon for $3.9 billion. However, the Justice Department rejected the agreement between the two groups to allow Verizon to market cable services in its stores in markets where it also offers FIOS service. The spectrum will be used to increase Verizon's 4G LTE network coverage. Verizon will also sell some spectrum to T-Mobile. Consumer groups were very concerned about the cross-marketing by Verizon: 'When it comes to home broadband, Verizon Communication Inc.'s FiOS provides the only significant competition to cable in many areas. Yet FiOS is costly to build out, and Verizon's commitment to the technology has faltered. Consumer groups and unions that opposed the deal between the cable companies and Verizon said it showed that Verizon was further giving up on FiOS and yielding the home broadband market to cable.'"

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