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The U.S. Justice Department on Monday gave antitrust approval to Charter Communications Inc’s to purchase Time Warner Cable Inc and Bright House networks, which would create the second-largest U.S. broadband provider and third-largest video provider.

The Justice Department’s approval was met with certain conditions designed to protect competition, coming at a time when the pay television industry faces stagnation due to new competition from over-the-web rivals like Netflix and Hulu.  Charter agreed to refrain from telling its content providers that they cannot also sell shows online

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