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Verizon gets $300M for internet, cable broadband deal

Verizon has agreed to pay Comcast $300 million to acquire Time Warner Cable, the Wall Street Journal reported on Friday.

The deal will allow Verizon to offer its customers a faster, more affordable service.

Verizon is also expected to offer customers access to its new FiOS internet service.

The acquisition is subject to regulatory approval.

Verizon is also buying a majority stake in AOL Time Warner for $425 million, which is expected to close in the third quarter.

The transaction will be subject to approval by the U.S. Securities and Exchange Commission.