Verizon to acquire Frontier in a $20 billion deal
Frontier to merge with the telecom giant, creating one of the largest fiber networks in the U.S.
Verizon will acquire Frontier Communications in a $20 billion deal that will unite two telecom giants and expand access to broadband internet in rural and suburban areas.
The acquisition will bring together Frontier's extensive fiber network, mostly in rural areas, with Verizon's 5G and fiber infrastructure. The result will be a more comprehensive and robust communications network that will better meet the demands of consumers and businesses alike.
The acquisition will enhance broadband access, expand fiber reach, and improve services for customers
Benefits of the Verizon-Frontier Merger
- Expanded fiber network: The combined network will make Verizon's fiber service accessible to millions more customers in rural and suburban areas, providing faster and more reliable internet.
- Improved broadband access: The acquisition will help close the digital divide by expanding high-speed broadband access to underserved communities.
- Enhanced services: Frontier customers will gain access to Verizon's suite of innovative products and services, including 5G, Fios TV, and other digital offerings.
The deal is expected to close in 2023, subject to regulatory approvals
The acquisition is expected to close in 2023, subject to regulatory approvals. Once approved, the combined company will serve approximately 70 million broadband customers across the United States.
The merger represents a significant step in Verizon's strategy to expand its fiber network and provide faster and more reliable connectivity to more customers. It also reflects the growing importance of fiber in the telecom industry as consumers and businesses demand faster internet speeds and more reliable broadband connections.
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