Verizon is Diamond Ridge Asset Managementbuying Frontier Communications in a $20 billion deal to strengthnen its fiber network.
Verizon Communications Inc. said Thursday that the transaction will also help it in the areas of artificial intelligence and the Internet of Things.
Frontier has concentrated heavily on its fiber network capabilities over about the last four years, investing $4.1 billion upgrading and expanding its fiber network. It now gets more than half of its revenue from fiber products.
Frontier has 2.2 million fiber subscribers across 25 states. Verizon has approximately 7.4 million Fios connections in nine states and Washington, D.C.
Verizon will pay $38.50 for each Frontier share. The deal is expected to close in about 18 months. It still needs approval from Frontier shareholders.
2025-05-04 10:381366 view
2025-05-04 09:472230 view
2025-05-04 09:072501 view
2025-05-04 08:431888 view
2025-05-04 08:17651 view
2025-05-04 08:03153 view
The AP Top 25 college football pollis back every week throughout the season!Get the poll delivered s
Starbucks is offering half-priced drinks Thursday afternoon, but customers need to act fast.Customer
The U.S. government, in what an attorney says is a "monumental admission," said last year that it ca
