Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network.
Verizon Communications Inc. said Thursday that the acquisition will also shore up its foray into artificial intelligence as well as connected smart devices.
Frontier has concentrated heavily on its fiber network capabilities over about four years, investing $4.1 billion upgrading and expanding its fiber network. It now gets more than half of its revenue from fiber products.
This is hilarious.
I’m living somewhere that, less than a decade ago, was sold to Frontier, built out FiOS network and all.
I guess that wasn’t the best idea, then, Verizon?
If this means I’m going to have to deal with Verizon support I think I’d rather just have no Internet.
Verizon didn’t like spending money on its fiber network. Cellular had better margins. So they sold much of it to Frontier.
Now Frontier invested in the fiber, and is making money, so Verizon wants it back.
This is an example myopic management, with no long term vision. Share price should drop, but it’ll probably go up.
Verizon has been trying Fios for decades now and I think I know one person that has it. Verizon is already a very very difficult company to deal with. Them buying Frontier will only make things worse.
Companies should not be allowed to acquire other companies if callers are on hold more than 5 minutes when trying to speak to a person at the acquiring company.
I’ve had FIOS for more than a decade. Service has been pretty much close to flawless. YMMV
They sold much of their fiber lines to Frontier years ago…
