Justice Department gets jurisdiction over telecom mergers
The United States Department of Justice (DOJ) and the Federal Trade Commission (FTC) announced today an agreement that for the first time formally allocates primary areas of responsibility on an industrywide basis.
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As a result, merger reviews and antitrust matters pertaining to telecommunications services and equipment will be administered by the DOJ. Allocations were based on the relative experience each agency had in a specific industry.
The DOJ/FTC clearance process was established in 1948, and revised in 1963, 1993 and 1995. In recent years, increased overlapping of responsibilities between the agencies caused delays in the resolution of merger disputes, which resulted in “uncertainty and increased costs for businesses and increased harm for consumers,” according to FTC Chairman Timothy Muris.
“The new clearance process will enable the agencies to determine much more quickly which agency will handle the matter, and therefore to begin and conclude investigations sooner,” Muris said in a statement.
--Glenn Bischoff, senior news writer
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© 2012 Penton Media Inc.
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