Frontier, a fiber internet provider, has been acquired by Verizon for $20 billion. Frontier’s current fiber networks will be upgraded and expanded by Verizon, following the Federal Communications Commission’s approval of the merger on Friday.
Verizon anticipates that the acquisition will result in the installation of fiber to one million households annually. According to a statement issued by FCC Chair Brendan Carr, the agreement was finalized after Verizon “made a commitment to discontinue DEI-related practices.”
The Intercept reports that Verizon’s chief legal officer, Vandana Venkatesh, outlines the company’s efforts to align with the administration’s objectives in a letter to Carr dated May 15th.
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Verizon has announced that it will discontinue any HR roles or teams that are dedicated to DEI, eliminate references to the term from employee training materials, and abandon objectives for diversity in its supplies, representation of women, and minorities in its workforce. Additionally, Verizon will update other company websites and future communications to eliminate references to “DEI” or “diversity, equity, and inclusion.”
Carr criticized Verizon’s “lack of progress” in eliminating policies related to DEI, or Diversity, Equity, and Inclusion, earlier this year. He also indicated that the agency would not approve deals if companies maintained these policies. In the same vein, T-Mobile terminated its acquisition of Lumos, a fiber provider, after modifying its website’s references to DEI.
Verizon will also be able to reclaim a portion of its fiber business through the merger, as it sold portions of its wireline operations, including Fios fiber internet connections, to Frontier in 2015. Carr stated that the merger will facilitate the extension of fiber to a greater number of communities, including rural ones. BEAD, a Biden-era initiative, was intended to compensate fiber providers for the provision of high-speed internet to rural areas. However, a report from The Washington Post indicates that the “money isn’t flowing.”
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