Federal Regulator Clears Cbs Takeover

Westinghouse Inc.’s $5.4 billion takeover of CBS Inc. won final Federal Communications Commission approval Wednesday, and the deal creating the nation’s largest broadcaster is expected to be sealed by week’s end.

After months of internal debate, all five commissioners approved the takeover, saying they believed Westinghouse would follow through on a pledge to increase broadcasts of educational television for children.

Westinghouse issued a statement saying the financial transaction would be finalized Friday, “creating a broadcasting empire of unparalleled creativity, growth and excellence.”

CBS shareholders approved the deal last week.