It feels like forever since Time Warner Cable agreed to merge with Charter Communications , for an estimated $55 billion . But today, nearly a year after the two companies struck a deal, the Federal Communications Commission has finally granted its approval . The announcement follows FCC Chairman Tom Wheeler and the US Justice Department green-lighting the merger in April, which confirmed that it was only a matter of time before it became official. It’s worth noting that Charter is also acquiring Bright House Networks , a regional TV and internet provider, as part of the agreement between it and the government. Additionally, last month Wheeler revealed there would be some caveats for Charter , including not being be able to impede access to streaming content. Namely, Charter can’t set data caps for subscribers or charge for service based on usage — and there might be more compromises. A detailed release of the conditions for the merger will be released over the coming days, according to a statement from the FCC . Nevertheless, this positions Charter as the second largest cable and internet service in the US with 24 million subscribers total, right behind Comcast’s 28 million . Persistence pays off , folks. Source: Federal Communications Commission

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Charter acquisition of Time Warner Cable approved by the FCC