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Justice Dept approves Charter's acquisition of Time Warner Cable with conditions

Reuters - UK Focus

WASHINGTON, April 25 (Reuters) - The U.S (Other OTC: UBGXF - news) . Justice Department approved Charter Communications Inc (NasdaqGS: CHTR - news) 's proposed purchase of Time Warner Cable Inc (Xetra: T3W1.DE - news) and Bright House networks on Monday.

The Justice Department valued the purchase of Time Warner (Xetra: AOL1.DE - news) Cable at $78 billion and Bright House at $10.4 billion.

The deal must also be approved by the Federal Communications Commission. FCC Chairman Tom Wheeler will circulate an order on Monday seeking approval of the deal from the five-member commission with conditions, the Justice Department said. (Reporting by Diane Bartz; Editing by Chris Reese)