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April 1, 2016

Frontier completes $10.5B Verizon acquisition

By Joe Cooper

Norwalk’s Frontier Communications, which has major operations in Hartford, today announced completion of its $10.54 billion acquisition of Verizon Communications wireline operations providing services to residential, commercial and wholesale customers in California, Texas and Florida.

The acquired businesses include approximately 3.3 million voice connections, 2.1 million broadband connections, and 1.2 million FiOS video subscribers, as well as the related incumbent local exchange carrier businesses. New customers will begin receiving monthly bills starting in mid-April from Norwalk-based Frontier.

Daniel J. McCarthy, Frontier's president and CEO, said the Verizon acquisition will significantly expand its presence in three high-growth, high-density states, and improves its revenue mix by increasing the percentage of revenues coming from segments with the most promising growth potential.

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