(NEW YORK) — The Federal Communications Commission on Friday approved AT&T’s acquisition of DirecTV, a move that creates the largest pay-TV provider in the world.
As part of the merger, the FCC says it is is requiring the company to “expand its deployment of high-speed fiber optic broadband Internet access service to 12.5 million customer locations as well as to E-rate eligible schools and libraries.” The new company will additionally be prohibited from practices that disadvantage online video distribution services.
The newly formed company will also offer broadband services to low-income customers and discounted rates, the FCC says.
“Combining DIRECTV with AT&T is all about giving customers more choices for great video entertainment integrated with mobile and high-speed Internet service,” AT&T Chairman and CEO Randall Stephenson said in a press release. “We’ll now be able to meet consumers’ future entertainment preferences, whether they want traditional TV service with premier programming, their favorite content on a mobile device, or video streamed over the Internet to any screen.”
The company will now serve more than 26 million U.S. customers and more than 191 million in Latin America, according to a press release from AT&T.
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