Frontier buys Verizon phone line access

May 13, 2009

(ChattahBox) — Rural telephone service provider Frontier Communications Corp has agreed to buy 4.8 million phone access lines in 14 states from Verizon Communications Inc for $5.25 billion in stock based on the estimated price of the shares at closing. 

The deal gives Frontier 4.8 million access lines to residential and small business customers and narrows Verizon’s focus on wireless, broadband and Internet service.

The deal includes all of Verizon’s wireline assets in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin as well as some assets in California.  The companies expect to complete the transaction in the next 12 months.  Some 11,000 Verizon workers are expected to move to Frontier as part of the transaction.


Comments

2 Responses to “Frontier buys Verizon phone line access”

  1. Old Man Dotes on May 13th, 2009 9:21 am

    Does this affect FiOS customers? Or only copper?

  2. Bear on May 13th, 2009 9:46 am

    I don’t believe this affects FiOS customers.

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