Comcast Corp (CMCSA.O) will sacrifice day-to-day control of popular video website Hulu as a condition for regulatory approval of its combination with NBC Universal, clearing the way for the deal to close in the next two weeks. The Federal Communications Commission and the Department of Justice approved the combination - but with a variety of conditions -- more than a year after the companies announced it. The deal creates a new media powerhouse that controls not just how television shows and movies are made, but how they are delivered to people's homes. Comcast sees it as a potent combination, particularly as viewing habits change and audiences expect to find their favorite entertainment on the TV set as well as the PC, tablet and smartphone. Not only is Comcast the largest U.S. cable company, it is also the top broadband provider.
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