Comcast to pay $7.5 billion to settle FCC investigation
Comcast will pay $700 million to settle the Federal Communications Commission’s investigation into whether it abused its market power to control and limit competition.
Comcast said Tuesday it will pay the $7,500-per-share settlement in the settlement with the Federal Trade Commission.
The settlement was announced in a letter from Comcast Chairman and CEO Brian Roberts to Chairman Michael O’Rielly.
The settlement will allow Comcast to continue its efforts to improve its broadband and fixed broadband services, the company said in the letter.
The agreement does not address whether the company will seek to challenge the FCC’s decision in court, Comcast said.
Comstock/AP Comcast has faced criticism from both left and right for allowing its broadband speeds to exceed the speeds of its rivals and for paying more for cable TV and internet than competitors.