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FCC approves $48.6bn sale of DirecTV to AT&T

For Sale

The Federal Communications Commission has approved the acquisition of DirecTV by rival AT&T for $48.5bn, but with one especially large catch that the regulator’s chairman, Tom Wheeler, said “would directly benefit consumers”: the new mega-company has to build a network 10 times the size of AT&T’s current network of fiber optic cable.

Toshiba chiefs quit over $1.2bn accounting scandal


Toshiba's chief executive and vice-chairman have resigned in the wake of an independent report on the company's 152 billion yen ($1.2 billion) accounting scandal, which accused the management of padding profits.