Federal regulators are preparing to clear Verizon Wireless’s $3.9 billion deal to acquire airwaves from several cable companies including Comcast Corp., according to people close to the negotiations, after the companies reached broad agreement to settle antitrust concerns.
The Justice Department is conducting a wide-ranging antitrust investigation into whether cable companies are acting improperly to quash nascent competition from online video, according to people familiar with the matter.
Verizon Communications Inc. and Comcast Corp. executives defended Verizon’s proposal to buy airwaves from cable companies for $3.6 billion, arguing at a Senate hearing Wednesday that it wouldn’t hurt competition and would improve Verizon’s wireless service.