For Immediate Release
STATEMENT OF FCC CHAIRMAN AJIT PAI ON $1.05 BILLION FIBER PURCHASE AGREEMENT BETWEEN VERIZON COMMUNICATIONS AND CORNING
WASHINGTON, April 18, 2017.—Federal Communications Commission Chairman Ajit Pai issued the following statement on today’s announcement that Verizon Communications Inc. has agreed to purchase at least $1.05 billion in optical fiber from Corning Incorporated. “The FCC’s top priority is closing the digital divide that has persisted for far too long. And the key to meeting that priority is setting stable, market-friendly rules that will lead to investment in online infrastructure. The FCC has already taken significant actions to promote greater capital expenditure on broadband deployment, from reducing regulatory barriers to wiser spending of federal subsidies for buildout.
Later this week, we will vote on several proposals that would unleash major capital expenditures on next-generation networks. “Against this backdrop, I’m pleased to see that Verizon and Corning have reached a $1.05 billion agreement under which Corning will manufacture and Verizon will buy up to 12.4 million miles of optical fiber each year. This agreement heralds the construction of ‘densified’ 5G networks that will benefit American consumers. It will create thousands of high-quality jobs building and laying fiber. And it will go a long way toward closing the digital divide.
“Going forward, the FCC will continue to focus on creating a regulatory climate that favors greater investment and competition. A forward-thinking approach—one that relies on market incentives, rather than the tired ideology of heavy-handed Washington micromanagement—is the best way to deliver digital opportunity to all Americans.”