Washington

Government OK With Liberty Purchase of Charter Stake

FTC issues early termination notice for pro forma antitrust review 4/09/2013 04:49:29 PM Eastern

The federal government signaled Tuesday it had no antitrust
issues with Liberty Media's proposed
purchase of a 27.3% stake in Charter Communications.

That came in an early termination notice from the Federal
Trade Commission, which teams with Justice to vet deals over a certain threshold
-- Liberty's $2.6 billion offer easily cleared that hurdle -- for any
competition issues [an FTC (or DOJ) review for potential competition issues,
and the requirement that companies alert the government to the deal, is
triggered by deals valued at $70.9 million or more].

The notice means the FTC has concluded its review and finds
no reasons to sue to block the deal or require conditions.

The deal does not require FCC approval. Liberty
becomes Charter's largest shareholder but not majority owner, which would
require a transfer of FCC licenses and commission approval.

 

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