UPDATE: FCC Said to Free Cable Companies From Local Rate Regulation (CVC) (CHTR)

FCC said to free cable companies from local rate regulation, according to Bloomberg.

UPDATE - According to reports, cable companies would be able to increase customers' rates without approval from local governments.

Cable companies typically seek FCC approval to skirt local rate-setting and the FCC grants nearly every request.

Voting on the measure was 5 - 0 in favor.

The FCC said it was changing its 22-year-old rule due to changes in the market, due in part to challenges put forth from satellite broadcasters.

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