FCC approves Verizon-Frontier merger

The FCC’s Wireline Competition Bureau approved Verizon’s (VZ) $20B acquisition of Frontier (FYBR) by granting a series of applications that transfer FCC licenses and authorizations. Chairman Carr issued the following statement: “By approving this deal, the FCC ensures that Americans will benefit from a series of good and common-sense wins. The transaction will unleash billions of dollars in new infrastructure builds in communities across the country-including rural America. This investment will accelerate the transition away from old, copper line networks to modern, high-speed ones. And it delivers for America’s tower and telecom crews who do the hard, often gritty work needed to build high-speed networks.”