The West Virginia Public Service Commission on Thursday (May 13) approved, with conditions, the transaction under which Frontier Communications Corporation would acquire the local landline operations of Verizon Communications in the state. All states where regulatory review was required have granted their approval of the transaction. At the federal level, the Federal Trade Commission and the U.S. Department of Justice granted the parties' request for early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Federal Communications Commission must approve the transfer of certain licenses for the transaction to close. The following statement should be attributed to B. Keith Fulton, president of Verizon West Virginia:
"We're pleased the commission has approved the transaction.
"The record developed in this case provides comprehensive evidence and assurances that the transaction with Frontier Communications is in the public interest and will provide many benefits to West Virginia residents, including increased investment and broadband availability in the state, while protecting jobs and promoting employment.
"We are now evaluating the order and its conditions."