Verizon’s $20 billion acquisition of fiber internet provider Frontier is officially proceeding. The merger received approval from the Federal Communications Commission on Friday, enabling Verizon to “upgrade and expand” the existing fiber networks of Frontier.
Following the acquisition, Verizon plans to extend fiber connectivity to 1 million homes annually. This deal came to fruition after Verizon reportedly “committed to ending DEI-related practices,” according to the FCC.
With this merger, Verizon aims to reclaim some of its fiber operations after selling segments of its wireline business, including Fios fiber internet connections, to Frontier in 2015. Carr mentioned that this merger could extend fiber services to more communities, specifically rural ones. Despite the Biden-era BEAD initiative’s intent to fund fiber providers in delivering high-speed internet to rural areas, a report from The Washington Post indicates that the “money isn’t flowing.”
