Verizon hails expanded reach and growth
Verizon CEO Dan Schulman welcomed the approval, framing the deal as a growth engine for the telecom giant.
“Our greatly expanded footprint will enable us to provide more value to more households and businesses in more regions, driving our growth and benefitting our customers and our shareholders,” Schulman said.
With the merger closed, Verizon inherits both Frontier’s assets and a long checklist from state regulators.
Affordable broadband and fiber expansion mandated
Under the agreement, Verizon must broaden affordable voice and broadband offerings, including free broadband service for qualifying low-income families for at least a decade. For the next five years, the company is barred from raising rates on those affordable plans.
California officials also said Verizon is required to invest in 75,000 new fiber locations and construct 25 new wireless towers designed to extend service into rural areas long left on the wrong side of the digital divide.
In addition, the decision folds in multiple settlement agreements covering affordability, service quality, labor protections and infrastructure deployment, along with a commitment to spend $500 million with small businesses.
Failure to meet those obligations could bring fines and other penalties from the CPUC.
