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IBM will pay $24.25 million to resolve FCC probes

·1 min read

WASHINGTON, Dec 23 (Reuters) - IBM Corp has agreed to pay $24.25 million to resolve a pair of investigations by the Federal Communications Commission (FCC)over subsidies awarded to connect schools and libraries to broadband.

IBM's payment will resolve two FCC investigations that have spanned nearly 15 years over its alleged violations of "E-Rate" program rules in connection with New York City and El Paso school districts. Under the agreement, IBM agreed to return $24.25 million to the Universal Service Fund that funds the E-Rate program, but did not admit wrongdoing. (Reporting by David Shepardson Editing by Chizu Nomiyama)