Verizon is buying Frontier Communications in a $20 billion deal that helps to strengthen its fiber network.

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.

  • schizo@forum.uncomfortable.businessEnglish
    0·
    2 months ago

    Ah I live somewhere that was already entirely fiber before Verizon sold it, so from that perspective, it seems super silly.

    Though, I think Verizon has proven they’re more than capable of committing massive fraud with grant money without the need to sell off parts of their business to do so.

    • SeaJ@lemm.ee
      0·
      2 months ago

      Same here in the Seattle area. My friend pushed for them to continue building it the fiber network but the Verizon CEO was sold on wireless being the future so they sold off all of their fiber network they had built out to Frontier. Frontier’s support was utter garbage.