Calif. counters FCC attack on DEI with conditions on Verizon/Frontier merger

"The last approval came from the California Public Utilities Commission (CPUC), which allowed the deal in a 5-0 vote yesterday. There were months of negotiations that resulted in requirements to deploy more fiber and wireless infrastructure, offer $20-per-month Internet service to people with low incomes for the next decade, and other commitments, including some designed to replace the DEI (diversity, equity, and inclusion) policies that Verizon had to end because of demands by the Trump administration."

"Verizon struck the merger deal with Frontier in September 2024, agreeing to pay $9.6 billion in cash and assume over $10 billion in debt held by Frontier. The all-cash transaction is valued at $20 billion including debt. Verizon said yesterday that the merged firm "will have an expanded reach of almost 30 million fiber passings across 31 states and Washington, DC.""

"Verizon to expand network, maintain low-income plans Verizon's interest in its home Internet business has waxed and waned over the years, but the company seems pretty committed to fiber and fixed wireless home Internet these days. Part of the deal involves Verizon buying back a former portion of its network that it sold to Frontier almost 10 years ago. In 2016, Frontier bought Verizon's FiOS and DSL operations in Florida, California, and Texas."

Verizon has secured regulatory approvals to acquire Frontier Communications for $9.6 billion in cash and to assume over $10 billion in Frontier debt, a transaction valued at $20 billion including debt. The merged company will expand fiber reach to almost 30 million fiber passings across 31 states and Washington, DC. The California Public Utilities Commission approved the deal with conditions requiring more fiber and wireless infrastructure and a $20-per-month internet option for low-income households for the next decade. Verizon committed to deploy fiber to 75,000 new locations within five years and to repurchase portions of its former network sold to Frontier.

Read at Ars Technica