NYC panel approves Verizon cable deal

NEW YORK Most city households now have only one cable provider: Time Warner, which covers Manhattan, Queens, western Brooklyn and Staten Island; or Cablevision, which serves the Bronx and eastern Brooklyn. Verizon would offer cable service in all five boroughs.

Verizon must next obtain approval from the state Public Service Commission.

Time Warner Cable and Cablevision are now set to begin negotiations with the city to renew their existing contracts.

Verizon's agreement was approved Tuesday by the city's Franchise and Concession Review Committee.