WaveDivision Holdings and Oak Hill Holdco asked the FCC for...
WaveDivision Holdings and Oak Hill Holdco asked the FCC for special temporary authority to close Oak Hill’s buyout of Wave’s Astound Broadband by Oct. 1, even though other federal agencies are still reviewing the proposed transaction. The Justice Department filed…
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a deferral request on the matter in July, saying the so-called Team Telecom agencies wanted to review the deal, Wave and Oak Hill said in a filing with the commission (http://xrl.us/bnpsds). “As of the date of this filing, the Team Telecom review process is ongoing ... [and] may not conclude prior to the scheduled close date of October 1, 2012,” the filing said. “If the Applicants do not close on a timely basis, they will face significant financial difficulties including the continued accrual of interest, ticking fees and other potential liabilities ... which could ultimately have an impact on end user customers,” it said. “A grant of this request will not prejudice action by the Commission or other reviewing agencies” it said.