Ready to Make the unfortunate switch from Verizon?
Verizon Communications Inc. has broken some unfortunate news today, of leaving some major states next year. Beginning some time in 2016, Verizon and their FiOS service will only be available eastern states: Connecticut, New York, New Jersey, Pennsylvania, Rhode Island, Virginia, Delaware, Maryland, Massachusetts and Washington D.C.
Frontier Communications Corporation has purchased wire-lines through states not previously mentioned in a $10.54 billion deal, enabling Verizon to focus on assets within the East Coast. California, Florida, Texas and/or surrounding states in the west, south and mid-west will have to look for alternate services of TV, home phone and Fiber internet – if you don’t want to stick with Frontier in the transitional phase next year.
Selling wireline operations in California, Florida and Texas to Frontier will concentrate Verizon’s wireline operations on the East Coast. Verizon will focus on further penetrating the market for its FiOS business across a contiguous footprint in Eastern states.
Frontier currently has access lines in 28 states, providing an array of voice, broadband and video services, including landline assets purchased from Verizon in 2009-2010.
Maggie Wilderotter, Frontier’s chairman and chief executive officer, said: “These properties align with Frontier’s disciplined strategic focus and enhance our footprint with rich fiber-based assets. We look forward to building on the strong results Verizon has delivered in these three states. Frontier has a solid track record of successful integrations, and we welcome the new employees who will help us implement our local engagement model in these markets.”
Completion of the transaction is subject to customary closing conditions including, among others, obtaining certain regulatory approvals. The companies are targeting completing the transaction in the first half of 2016.
As they did during the companies’ previous transaction, Verizon and Frontier transition teams will work to ensure that customer accounts, billing information and other assets from the operations are successfully transferred to Frontier and that the transition is seamless for customers as well as employees.
The operations Frontier will acquire consist of all of Verizon’s local wireline operating territories in California, Florida and Texas. At the end of fourth-quarter 2014, these operations served approximately 3.7 million voice connections; approximately 2.2 million high-speed data customers, including approximately 1.6 million FiOS Internet customers; and approximately 1.2 million FiOS Video customers.
The transaction includes Verizon’s FiOS Internet and Video customers, switched and special access lines, as well as its high-speed Internet service and long-distance voice accounts in these three states. Frontier will continue to provide video services in these states after the completion of the transaction.
The transaction does not include the services, offerings or assets of other Verizon businesses, such as Verizon Wireless and Verizon Enterprise Solutions.
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