A $3.6-billion deal between Verizon Wireless and several cable companies received a go-ahead Thursday from the U.S. Justice Department.
The agreement now awaits final approval from the Federal Communications Commission. If approved, the deal would allow Verizon to continue expanding its 4G LTE network by gaining unused portions of the airwaves from the cable companies.
T-Mobile would also benefit from the approval. The company entered into a deal with Verizon in June that would help T-Mobile improve its own 4G network and an LTE network expected to roll out next year.
In exchange, Verizon primarily got leverage to get the deal approved by regulators, and that's seemed to work thus far.
The Justice Department, though, did mandate that Verizon and its cable partners agree to restrict the amount of cross-marketing agreements they make. That limitation will last until 2016, and its purpose is to ensure that all the companies involved have an incentive to remain competitive.