AOL-Time Warner Deal Approved.U.S. antitrust enforcers have approved America Online See AOL. Inc.'s $126 billion acquisition of Time Warner Inc. after the companies agreed to let AOL's online rivals reach their customers over Time Warner's cable TV lines. If the decision holds, L.A.'s raging debate over cable access could be rendered moot because a precedent would be set for cable companies to open up their lines to competitors. The 5-0 vote by the Federal Trade Commission removes the most significant regulatory hurdle to the 15-year-old Internet company's acquisition of the media giant, which owns one of Hollywood's biggest movie studios, Cable News Network and Time Magazine. Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. Executive Vice President Preston Padden said the deal would be good for the cable industry. "The unprecedented open access and nondiscrimination conditions imposed by the FTC FTC See Federal Trade Commission (FTC). represent a huge victory for consumers and competition," Padden said. The transaction, which still must be approved by the Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. , gives the world's largest online service a direct link to 12.6 million Time Warner cable This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. subscribers. |
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