News
This year, the U.S. telecom industry has been busy making headlines with major deals, new regulations, and serious security concerns.
From Verizon’s $20 billion acquisition of Frontier to a renewed push for rural 5G funding, 2024 has been all about growth and connection. At the same time, the industry faced challenges like a government investigation into alleged Chinese telecom espionage. Here’s a rundown of the stories that shaped the year, in no particular order, as picked by Connected America.
FCC launches first review of submarine cable rules since 2001
The Federal Communications Commission voted to launch a major review of licensing rules surrounding submarine cable rules. According to the FCC’s release following the vote, the agency has not conducted a major review of submarine cable rules since 2001.
US accuses China of telecoms espionage
The US government’s ongoing investigation into cyber threats from the People’s Republic of China (PRC) uncovered a wide-reaching espionage campaign targeting commercial telecommunications networks, according to a joint statement released last month from the FBI and CISA (Cybersecurity and Infrastructure Security Agency).
Verizon boosts fiber business with $20bn purchase of Frontier
Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network, with the deal representing significant growth for Verizon’s fiber business.
Verizon stated that the purchase, which adds Frontier’s 2.2 million subscribers in 25 states to Verizon’s 7.4 million in nine states and Washington D.C., will shore up its developments in artificial intelligence and connected devices.
FCC approves $9bn in subsidies for rural 5G expansion
The US Federal Communications Commission (FCC) has approved new rules to provide $9 billion in subsidies to help roll out 5G in rural areas across the US. The decision finally progresses the 5G Fund for Rural America, a scheme was first devised in 2020 and aims to bring advanced mobile connectivity to regions less likely to receive 5G service without financial assistance, helping to bridge the US digital divide.
T-Mobile agrees to buy UScellular wireless operations in $4.4bn deal
T-Mobile has announced an agreement to acquire the majority of UScellular’s wireless operations, including its customers, retail stores, and certain spectrum assets. T-Mobile will pay a total of $4.4 billion for UScellular’s assets through a combination of cash and the assumption of $2 billion of debt.
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