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In that year, Verizon Communications announced plans to sell its landline operations in Maine, New Hampshire, and Vermont to FairPoint for $2.7 billion. Of that amount, $1.7 billion would go to Verizon in cash and debt and approximately $1.015 billion would go to Verizon shareholders in FairPoint common stock. Verizon would hold no stock.
In May 2009, Frontier announced that it would acquire Verizon's 4.8 million landlines leased to residential and small business customers in Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia, and Wisconsin, for $8.6 billion.
Verizon Communications Inc. (/ v ə ˈ r aɪ z ən / və-RY-zən), is an American telecommunications company headquartered in New York City. [3] It is the world's second-largest telecommunications company by revenue and its mobile network is the largest wireless carrier in the United States, with 146 million subscribers as of December 31, 2024.
FILE - A Verizon retail location is shown in Willow Grove, Pa., Thursday, Feb. 22, 2024. Verizon is buying Frontier Communications in a $20 billion deal that helps bolster its fiber network.
However, for customers of Verizon, the predominant landline provider in the Northeast for decades, that transition largely occurred in the 2000s, when landlines were still prominent.
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Verizon formerly served ex-GTE areas in parts of California, Florida and Texas before selling to Frontier Communications in 2016. Claro Puerto Rico , which serves every exchange in Puerto Rico, has been owned by the international telecommunications giant América Móvil since in 2007.
Landline cord-cutters: 'The young and the restless' ... Verizon and other fiber-optic providers often package service in a bundle: internet, cable television and a telephone line for one low price ...