Verizon is one step closer to what could be its biggest ever franchise agreement … next to Babylon, of course.
New York City’s Franchise and Concession Review Committee today unanimously approved the agreement. That means Verizon can soon roll out its FiOS fiber optic television and Internet service in the five boroughs. State approval is all that remains.
After that, we’ll see how Time Warner and Cablevision deal with the competition in the capital of the world.
From the Crain’s story:
The 12-year agreement, which the telecom giant reached with the city on April 29, will be forwarded to the New York State Public Service Commission for final approval. Verizon is expected to be given a green light by July.
“After many years, real choice for TV is closer to reality for New York City residents,” the telecom giant said in a statement released after the 11 a.m. vote. “When our proposal is fully approved, New York will be the first major city in the nation to break the cable TV monopoly.”
If approval goes as planned, residents in Staten Island and certain neighborhoods in the other boroughs, where the fiber-optic cable network that delivers the TV signal to homes is already deployed, will be able to sign on for the Verizon service by the end of the year. Under the franchise, Verizon must be able to provide TV to all of the city’s 3.1 million households by the mid-2014.
Why should fios require any franchise from the state?
Let Verizon and Cablevision and whomever wants to compete for our fios business.
State licensing just raises both the barriers to entry and the cost of service to us.
Agree. Why are the state, county, and local governments involved in this. let whoever wants to provide service compete. Why do they have to be licensed by the local goverment. What purpose does it serve except slow down competition and drive up rates.