Verizon and Frontier Urge Quick Approval of $20B Deal
Verizon and Frontier urged the FCC to move forward on their $20 billion all-cash deal announced in September (see 2409050010). Verizon is buying the smaller provider. “No parties have opposed the Transaction, identified any public interest harms, or otherwise contested…
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whether it will bring myriad benefits to consumers across the country,” the companies said in a filing posted Tuesday in docket 24-445. They called on the FCC to reject proposed conditions that the Communications Workers of America, Intrado Life & Safety and the Coalition for IP Network Transition requested (see 2412100021). The proposed conditions are “unfounded and contrary to law,” the filing said. None are “'transaction-specific’ but instead merely consist of the ‘wish lists’ of parties who seek industry-wide reforms that are more appropriately pursued in separate rulemaking proceedings.” The requests “fly in the face” of precedent for both the FCC and U.S. Court of Appeals for the D.C. Circuit. The companies’ October public interest statement (see 2410160049) “explained how the Transaction will increase the reliability of Frontier’s network, improve the customer experience, and bring enhanced benefits to local communities within the Frontier footprint,” they added: “No commenter disputes these benefits.” The filing sought quick FCC action, citing the FCC’s 2017 approval of CenturyLink's buy of Level 3. The filing cited the comments of Commissioner Brendan Carr, tapped as the next FCC chair. “I am … glad that the standard of review and public interest framework in today’s decision make it clear that this Commission will be adhering to the Communications Act and longstanding FCC precedent as it reviews proposed transactions.” In addition, Carr said transaction approvals shouldn’t “extract extraneous concessions from parties.”