Cable / Telecom News

Verizon sells rural land lines to Frontier


NEW YORK – Verizon Communications is selling its local wireline operations in predominantly rural areas in 14 US states to Frontier Communications. The deal, paid for with US$5.3 billion worth of company stock, will allow Verizon to focus on “the fastest-growing parts of its business” such as wireless, broadband, fiber-based wireline (FiOS) and global IP, the company said in an announcement. The transaction will also “strengthen Frontier's position as a premier rural communications provider” while tripling it in size. Frontier, based in Stamford, Conn, currently has approximately 2.3 million access lines in 24 states, providing local and long-distance voice, broadband data,...