Verizon-Cable Agreement Is Said To Win Antitrust Approval Today

The Justice Department is set to give approval to Verizon Wireless’s purchase of airwaves from Comcast and other cable companies soon in exchange for limits on agreements to sell each other’s services, four people with knowledge of the situation said. Verizon, the largest U.S. wireless carrier, has been seeking clearance from the Justice Department and the Federal Communications Commission for the $3.6 billion deal, which will supply the phone company with spectrum that the cable providers aren’t using. Verizon and Comcast have agreed in principle with U.S. antitrust officials to limit joint ventures as a condition for the deal’s approval, people familiar with the negotiations said. In a filing, Verizon told the FCC it will use the airwaves to serve 70 percent of the population covered by the frequencies within seven years. It also vowed to reach agreements to let other wireless companies use its airwaves in areas where it’s acquiring frequencies from the cable companies.