Verizon to Shed Landlines in 14 States

As part of Verizon Communications’ strategy to focus on wireless, broadband and FiOS fiber-optic services, they will sell their predominantly rural landlines across 14 states to Frontier Communications. This translates to the sale and transfer of 4.5 million landlines and related assets.

The big winners in this transaction will be stockholders and Frontier. All-in-all, Verizon stockholders will receive a total value of $8.6 billion and Frontier will become the largest operator of rural communications services across the U.S.

The states affected will be Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virgina, Wisconsin and some parts of California. The time line given by Verizon for the full transfer of all assets is 12 months.

For more information regarding this transaction and how it may affect you as a current Verizon customer, visit CNET News and Verizon Investor Relations.

Comments

[Verizon FiOS]

I see this as a movement away from landlines as wireless becomes stronger. The demand is less for landlines and will continue so in the future. We all will soon be reliable on cell phones strictly