Verizon Promises Protections For Tracfone’s Low-Income Users In Upcoming Merger
On Thursday, August 12, Verizon announced a range of new public commitments to protect low-income consumers in connection with its proposed acquisition of Tracfone. The commitments are part of a deal with public-interest groups and communications workers unions, who have agreed to support the acquisition on the basis of today’s announcement.
For its part of the deal, Verizon pledges to continue to provide Tracfone’s Lifeline subsidy programs for at least three years after the merger closes. Verizon is also promising to offer a subsidized 5G program for low-income Tracfone users. According to the Communication Workers of America (CWA), over 1.7 million Tracfone customers depend on the Lifeline program.
The CWA, Public Knowledge, and the Benton Institute for Broadband and Society had initially criticized Verizon’s proposed purchase of Tracfone, suggesting that the deal could harm Tracfone’s low-income customer base. But the groups announced on Thursday that they would be withdrawing their opposition in response to the new concessions.
“These commitments ensure TracFone customers will continue to have access to Lifeline, an essential program for millions of families,” senior CWA researcher Brian Thorn said in a statement. “Today’s success would not have been possible without the support of our allies and an FCC interested in protecting the interests of customers over corporations.”
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Massachusetts AG Sues Insulin Makers and PBMs Over Alleged Price-Fixing Scheme
Jan 14, 2025 by
CPI
Apple and Amazon Avoid Mass Lawsuit in UK Over Alleged Collusion
Jan 14, 2025 by
CPI
Top Agent Network Drops Antitrust Suit Against National Association of Realtors
Jan 14, 2025 by
CPI
Weil, Gotshal & Manges Strengthens Antitrust Practice with New Partner
Jan 14, 2025 by
CPI
Russian Court Imposes Hefty Fine on Google for Non-Compliance with Content Removal Orders
Jan 14, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand