Verizon Deal Nears Regulatory Approval

Federal regulators are preparing to clear Verizon Wireless's $3.9 billion deal to acquire airwaves from several cable companies including Comcast, according to people close to the negotiations, after the companies reached broad agreement to settle antitrust concerns.

To clinch their deal with Verizon Wireless, the cable companies have agreed to limit the scope and duration of side agreements to sell each other's services, the people said. Consumer groups and other critics had said the joint marketing pacts were effectively agreements between the companies not to compete for customers seeking broadband Internet, television and phone services in their homes. Although some details are still being worked out, Justice Department and Federal Communications Commission officials are preparing to approve the deal in the coming weeks, people familiar with the matter said. FCC Chairman Julius Genachowski is expected to begin the process this week by circulating a proposal to approve the deal among the agency's four other commissioners, according to several agency officials. The Justice Department is also preparing to drop its objections to the deal after the companies agreed in principle to limit the duration of the joint ventures to five years or less, after which they will have to reapply for antitrust clearance for a new tie-up, people familiar with the discussions said.