Staying Connected Without Burning the Pocket

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POLAND - 2021/02/05: In this photo illustration a Verizon logo seen displayed on a smartphone screen with stock market graphic on the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images)

As much as try to stay away from it, the truth is we are constantly living amidst a lot of disruption. This disruption, in turn, is created by a whole different set of factors, but none seems to be more prominent than our clashing interests. You see, the very diversity and uniqueness that we take pride in can also, at times, become a problem for us. Now, the ripple effects of such a scenario are all over the place. They might not come out strongly on every single occasion, except when they do, the situation becomes a dumpster-fire in no time. Hence, in a bid to avoid such a severely negative reality, we tend to tone down the personal interests through dedicated regulation. Make no mistake; there remains a sizeable room for you to fulfill personal objectives, but any chance of doing it by affecting others is dramatically reduced. So far, the idea has enjoyed resounding success. While many companies do accuse the governing bodies of holding them back on rather unfair basis, the holistic benefits of regulation make it worth all the hassle. One example of how regulators are able to help the masses this way resides within a newly-formed communications powerhouse.

The Federal Communications Commission has officially approved Verizon’s purchase of Tracfone. Reported to be worth around $6 billion, the deal makes Verizon one of the largest prepaid service providers in the US. Nevertheless, it wouldn’t have gone through without Verizon agreeing to certain measures proposed by the FCC. For starters, the communications-giant has guaranteed its participation in Lifeline Subsidy Program for at least a timeframe of 7 years. Next up, as a part of the previous agreement, Verizon also made a pledge to provide “cost-effective” 5G devices to every Lifeline customer. Apart from that, the company gave its nod in the context of delivering free 5G compatible devices and triggering no increase in price for wireless plans over the next five years.

“After rigorous review, the Commission found that the transaction, as modified by Verizon’s enforceable commitments, will make Verizon and Tracfone stronger providers of prepaid and Lifeline services,” the FCC said.

Acquiring the largest US reseller of wireless devices is, by all means, a big deal for Verizon. With Tracfone’s 20 million subscribers and over 90,000 retail locations, the company’s footprint in the country is all but set to take a phenomenal leap. According to Verizon, the primary intention behind bringing together country’s largest mobile virtual network operator and the largest wireless provider was to bolster the competition for low-income wireless service, and right now, that looks more than achievable.

 

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