Short Answer 
Verizon acquired Tracfone in November 2021 to enter the prepaid market and plans to retain brands like Straight Talk, focusing on enhancing existing services and maintaining brand loyalty. They have regulatory commitments to uphold service terms and support low-income customers, indicating that Straight Talk will likely continue operating with potential service improvements.
Step 1: Understand the Acquisition
In September 2020, Verizon announced its intention to acquire Tracfone, which includes brands like Straight Talk. The acquisition was completed in November 2021 after receiving regulatory approval. This acquisition is significant as it allows Verizon to tap into the prepaid market while maintaining the established brands under Tracfone.
Step 2: Assess Brand Continuity Plans
Verizon aims to retain and grow the value of the Tracfone brands, including Straight Talk. They have made no announcements regarding the discontinuation of Straight Talk and plan to leverage its existing customer base. This approach typically helps large companies maintain brand loyalty and market presence, making it unlikely for the brand to be shut down anytime soon.
Step 3: Consider Service Improvements and Commitments
Verizon has committed to enhancing services for Tracfone customers, including those on Straight Talk. They have regulatory commitments to maintain existing service terms for three years and to continue offering essential support services for low-income customers. This focus on improvement rather than discontinuation suggests that Straight Talk will likely continue to operate with potential upgrades in its service offerings.