Justice Department approves Verizon, US cable companies deal

Thanks to the U.S. Department of Justice (DOJ), America's largest wireless network is one step closer to getting its hands on unused spectrum.

Bloomberg is reporting that the DOJ gave its blessing to the deal Thursday, provided the carrier and cable companies set limits on offering each other's services.

Although the Federal Communications Commission (FCC) still has the final word, Verizon Wireless is now clear to pursue the $3.6 billion deal with Comcast, Time Warner Cable, Bright House Networks and Cox Communications.

If given the go-ahead, rival carrier T-Mobile, the fourth largest carrier in the U.S., stands to benefit as it's in desperate need of additional spectrum for its 4G LTE expansion plans.

One down, one to go

The DOJ's approval is a definite victory for Verizon, which now faces one last hurdle with the FCC before the deal is done.

"As evidenced by the consent decree, we believe we have addressed the Department of Justice's concerns," William Petersen, Verizon Wireless vice president, general counsel and secretary, told TechRadar.

"We now believe the consumer benefits of the transaction will be promptly realized, and look forward to the conclusion of the FCC review so that we can move forward with meeting the unprecedented consumer demand for innovative 4G LTE mobile and data driven products and services."

T-Mobile got to be excited at this latest development as Verizon is required to offload some of its spectrum to the fourth-placed U.S. carrier as part of the agreement.

Via Bloomberg