Verizon announced the acquisition of Frontier for $20 billion, following reports that the two companies were in talks. This deal will expand Verizon’s fiber network across the US, helping it compete with AT&T by adding 2.2 million fiber subscribers in 25 states. Verizon will reach about 10 million customers in 31 states and DC. The acquisition is seen as a strategic fit, according to Verizon Chairman and CEO Hans Vestberg. Frontier, which declared bankruptcy in 2020 and faced FTC lawsuits, will now join forces with Verizon to enhance their combined fiber network. This partnership could help Verizon boost its revenue faster than expanding its network alone.
