Verizon is reportedly close to a deal to buy fiber provider Frontier Communications. on wednesday The Wall Street Journal he said An announcement could be made as early as this week, provided there are no “last minute snags” in the talks.
Frontier has a market value of more than $7 billion and provides broadband to nearly three million locations in 25 states. The company will help Verizon grow its Fios fiber network and better compete with AT&T. The carrier has seen wireless revenue slow and sees fiber investment as a growth area. Acquiring companies like Frontier with existing infrastructure is potentially less expensive and time-consuming than rolling out its own network.
Dallas-based Frontier is currently upgrading its copper landline system to fiber – allowing it to offer. 5Gbps symmetrical plan. company given For Chapter 11 bankruptcy in 2020. WSJ describes before facing concerns that he would run out of money before completing his current upgrades.
FTC In 2021, he sued the company for misrepresenting its speeds. Under the settlement of 2022, it was Border is required It spent more than $8.5 million to stop lying about Internet performance and install fiber service in 60,000 California homes over four years.
