Verizon’s $20 billion deal to acquire the fiber internet provider Frontier is officially happening. On Friday, the Federal Communications Commission signed off on the merger, which will allow Verizon to “upgrade and expand” Frontier’s existing fiber networks.
Verizon expects to bring fiber to 1 million homes each year following the acquisition. The deal went through after Verizon “committed to ending DEI-related practices,” according to the FCC.
Through the merger, Verizon will also be able to claw back some of its fiber business after it sold parts of its wireline operations, including Fios fiber internet connections, to Frontier in 2015. Carr said the merger will allow fiber to come to more communities, including rural ones. BEAD, a Biden-era initiative, was supposed to pay fiber providers to bring high-speed internet to rural areas, but a report from The Washington Post suggests that the “money isn’t flowing.”
[Notigroup Newsroom in collaboration with other media outlets, with information from the following sources]
