The US Federal Communications Commission is ready to block any merger and acquisition proposals from companies that promote "invidious" diversity, equity, and inclusion, or DEI policies, the agency's chairman said in an interview, Bloomberg reported Friday.
FCC Chairman Brendan Carr said that for any companies still promoting "invidious forms of DEI discrimination," he doesn't "see a path forward" where the agency decides that greenlighting a potential deal "is going to be in the public interest."
Bloomberg said the agency's move could jeopardize large deals in the communications sector, with Carr specifically mentioning Paramount Global's (PARA, PARAA) merger with Skydance Media, and Verizon Communications' (VZ) acquisition of Frontier Communications Parent (FYBR).
Carr also said businesses seeking FCC approval should stop promoting any type of DEI-related discrimination.
Paramount Global, Verizon Communications, and Frontier Communications did not immediately respond to requests for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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