March 16, 2016 / 1:08 AM / 3 years ago

FCC likely to circulate draft order approving Charter-Time Warner Cable merger: WSJ

(Reuters) - U.S. Federal Communications Commission Chairman Tom Wheeler is likely to circulate a draft order approving Charter Communications Inc’s (CHTR.O) $56 billion deal to buy Time Warner Cable Inc TWC.N, the Wall Street Journal reported, citing people familiar with the matter.

A Time Warner Cable office is pictured in San Diego, California October 15, 2014. REUTERS/Mike Blake

The order, which could be circulated as soon as this week, would levy some conditions on the deal, such as preventing Charter from including clauses in pay-TV contracts that limit a content company’s ability to offer its programming online or to new entrants, the WSJ reported on Tuesday.

The transaction will also likely include a requirement for Charter to build or upgrade service to more homes, the Journal said.

Charter said in May that it would buy Time Warner Cable in a $56 billion cash-and-stock deal that would make it the No. 2 U.S. Internet and cable company after Comcast (CMCSA.O).

The FCC was not immediately available for comment.

Reporting by Anya George Tharakan in Bengaluru; Editing by Sandra Maler

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