Verizon Wireless Probed by U.S. Over Cable Deals
By Sara Forden – Dec 20, 2011 11:48 AM ET
Verizon Wireless is being investigated by the antitrust division of the U.S. Justice Department over whether its proposed cable spectrum deals might constitute a restraint of trade, a person familiar with the matter said.
Verizon Wireless, the largest U.S. mobile-phone carrier, struck an alliance earlier this month with cable companies that will change how customers buy Internet, mobile and pay-TV services.
Under the deal, Verizon Wireless will pay the group $3.6 billion for wireless spectrum, the companies said Dec. 2 in a statement. Comcast Corp., the country’s largest cable provider, will receive $2.3 billion, while Time Warner Cable Inc. (TWC) gets $1.1 billion and Bright House Networks LLC gets $189 million.
Verizon Communications Inc. (VZ) co-owns Verizon Wireless with Vodafone Group Plc.
To contact the reporter on this story: Sara Forden in Washington at firstname.lastname@example.org
To contact the editor responsible for this story: Patrick Oster at email@example.com