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The Verizon/Frontier deal is good news for shareholders – but reminds the rest of us that the telecom landscape may not actually ensure connectivity across the U.S. landscape.
During Labor Day week, Verizon (Verizon Communications Inc.) announced that it entered into a “definitive agreement” to acquire Frontier (Frontier Communications Parent, Inc. in $20 billion all-cash transaction. In calling this move “strategic,” the acquisition will
enhance the footprint for Verizon’s fiber network primarily into the southwestern United States. According to Verizon’s press release, Frontier has spent $41 billion over the past four years to both upgrade and expand its fiber network, and Verizon expects to be able to capitalize on this investment to benefit its customers. Currently, Frontier has 2.2 million fiber subscribers across 25 states, while Verizon has 74 million FiOS connections in 9 states and the District of Columbia. Again, according to its press release, Verizon remains committed to existing plans to build out an addition 2.8 million fiber locations by the end of 2026. It’s important to note that while Verizon is certainly one of the most well-known players in the overarching fiber and wireless spaces, the fiber footprint will still only cover 17% of the country.
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