Verizon Buying Frontier Communications Making First Major Move Into Ct

Verizon to Acquire Frontier Communications, Making First Major Move into Connecticut

What Does This Mean for Frontier Customers?

Customers of Frontier Communications in Connecticut will soon be under the Verizon umbrella. Verizon has agreed to acquire Frontier's assets in the state for $1.05 billion. The deal is expected to close in the second half of 2023, subject to regulatory approvals.

Once the acquisition is complete, Verizon will become the dominant provider of wireline services in Connecticut. The company will gain Frontier's 150,000 broadband customers, 35,000 business customers, and 1,200 employees in the state.

Verizon has said that it plans to invest heavily in Connecticut's network infrastructure. The company has committed to spending $3 billion over the next five years to upgrade the state's broadband network.

What Does This Mean for Verizon?

The acquisition of Frontier Communications is a major move for Verizon. It is the company's first major acquisition since it purchased AOL in 2015.

The acquisition will give Verizon a significant presence in Connecticut, a state that has been largely dominated by cable companies. It will also give Verizon a stronger foothold in the Northeast, where it is already the largest wireless provider.

The acquisition is part of Verizon's broader strategy to expand its wireline business. The company has been investing heavily in fiber optics and 5G wireless technology.

What Does This Mean for the Telecom Industry?

The acquisition of Frontier Communications by Verizon is a sign of the changing telecom industry. The traditional landline phone business is declining, and cable companies are increasingly offering broadband and wireless services.

Verizon's acquisition of Frontier is a sign that the company is adapting to the changing market. The company is investing in new technologies and expanding its reach into new markets.

The acquisition is also a sign of the growing consolidation in the telecom industry. Verizon is one of the largest telecom companies in the world, and Frontier is one of the largest regional providers. The acquisition will further reduce the number of competitors in the market.