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Here is the press release. FCC (http://www.fcc.gov/Daily_Releases/Daily_Business/2011/db0118/DOC-304134A1.pdf - broken link)
Looks like there is an emphasis on providing Spanish language, more children's programing, fostering video competition, protecting online competition like "Hulu", and adding local news content, in addition to the low cost services. Comcast has committed to provide 10 new independent channels within eight years on its digital tier. The deal also says they will continue to provide at least as much news programming as is currently shown. It doesn't say what direction that news content will take, whether liberal, conservative, or otherwise.
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