FCC approves Verizon's $20 billion merger with Frontier
The FCC has announced its approval of the merger between communications giants Verizon and Frontier, after a deal was made last year. Verizon will acquire Frontier Communications for $9.6 billion in cash, in addition to absorbing $10 billion of debt.
Key to earning approval from the FCC was Verizon's commitment to ending all DEI-related practices, in line with the Trump administration’s aim to dismantle all diversity, equity, and inclusion initiatives from both public organizations and private companies.
The statement from the FCC said the approval "ensures that discriminatory DEI policies end," and that Verizon "has reaffirmed the merged entity’s commitment to equal opportunity and nondiscrimination."
"By approving this deal, the FCC ensures that Americans will benefit from a series of good and commonsense wins. The transaction will unleash billions of dollars in new infrastructure builds in communities across the country—including rural America. This investment will accelerate the transition away from old, copper line networks to modern, high-speed ones. And it delivers for America’s tower and telecom crews who do the hard, often gritty work needed to build high-speed networks," said Brendan Carr, FCC chairman.
Verizon plans to upgrade and expand Frontier's existing network across 25 states and expects to deploy fiber to more than one million American homes annually.This article originally appeared on Engadget at https://www.engadget.com/big-tech/fcc-approves-verizons-20-billion-merger-with-frontier-181434890.html?src=rss