Update from FCC Meeting: Alltel/VZW
Nov 4, 2008
I'm watching a live Webcast of the Federal Communications Commission's (FCC) open meeting and will be posting brief updates here as it unfolds.
After a delay of almost five hours, the FCC started its open meeting, and the first item on the agenda was the $28 billion merger between Alltel and Verizon Wireless -- a deal that would create the largest mobile carrier with an estimated 80 million subscribers nationwide.
The Justice Department approved the deal last week, after Verizon agreed to divest its assets in 100 mobile markets in over 20 states. However, both Democratic FCC commissioners, Michael Copps and Jonathan Adelstein, expressed concerns that the merger would still harm competition. So, they concurred in part and dissented in part.
The remaining three commissioners, Robert McDowell, Deborah Taylor Tate and chairman Kevin Martin, voted in favor of the merger, approving it with conditions.
In his statement, Commissioner Copps explained that he concurred in part because of those conditions, which include "a commitment by Verizon Wireless to extend existing roaming contracts for four years and to maintain Alltel's existing GSM network 'indefinitely'...[and agreement by Verizon that it will] meet important E911 location accuracy benchmarks and...open its books to ensure that its Universal Service Fund support is commensurate with its real costs of providing service."
UPDATE: We've made some changes to the original post following the FCC's release of its official announcement about the merger.
Tags:
Alltel, competition, Deborah Taylor Tate, FCC, Jonathan Adelstein, Kevin Martin, Michael Copps, Robert McDowell, Verizon Wireless, wireless
