FCC Approves Frontier's Purchase of Verizon Wirelines

To All Frontier Locals

From  Lois J Grimes-Patow; Administrative Director

Subject  Frontier received approval for the purchase of Verizon wireline operations in Texas, California and Florida.  

FCC approves Frontier's $10.5B purchase of Verizon wirelines

• The FCC has approved Frontier Communications' (FTR +3%) $10.54B purchase of wireline operations in California, Florida and Texas from Verizon (VZ +1.1%).
• The deal, which Verizon undertook in the wake of its $10.4B in bids in the AWS-3 wireless spectrum auction, had previously received approval from the Dept. of Justice.
• It still needs approval from public utilities commissions in California and Texas, though the key hurdles are behind it. The companies expect to close the transaction at the end of Q1 2016.
• Frontier focused on the broadband offerings it could bring: "By doubling our size, we will add scale and scope to our operations, strengthen our product and service offerings, and improve the customer experience," said Frontier CEO Daniel McCarthy. "Our goal is to deliver the life-changing benefits of broadband to an additional 750,000 households at speeds of 25Mbps/2-3Mbps across the entire Frontier multi-state footprint, including California, Florida and Texas, by the end of 2020."