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Competing fiber internet service providers Verizon and Frontier announced Thursday that the two have entered a definitive agreement in which Verizon will acquire Frontier Communications. The all-cash transaction, expected to close in approximately 18 months pending regulatory and Frontier shareholder approval, is valued at $20 billion.
Post-close, Verizon’s fiber reach and subscriber base will increase significantly. Frontier Fiber currently boasts approximately 2.2 million subscribers from 7.2 million locations across 25 states, with plans to expand to 10 million locations by 2026. Upon acquisition, Frontier’s subscribers and customer reach will join Verizon’s 7.4 million connections throughout nine states and Washington, DC.
In a press release from Verizon announcing the agreement, CEO Hans Vestberg notes, “The acquisition of Frontier is a strategic fit. It will build on Verizon’s two decades of leadership at the forefront of fiber and is an opportunity to become more competitive in more markets throughout the United States, enhancing our ability to deliver premium offerings to millions more customers across a combined fiber network.”
Two major fiber networks combined
The combined fiber networks (Frontier: purple, Verizon: pink) will boost Verizon's fiber coverage to 25 million units across 31 states and Washington, DC.
FCCWith the acquisition of Frontier’s networks, Verizon will make a significant leap in fiber coverage, potentially matching or surpassing that of rival ISP AT&T Fiber. Currently, Verizon Fios is largely limited to the Mid-Atlantic and Northeast.
Verizon’s fiber reach will increase in the Northeast, particularly in the states of Connecticut, Pennsylvania and New York. New Fios service areas will primarily center around the Midwest, though coverage will reach as far west as California and south into Texas and Florida -- locations where Verizon had previously sold internet networks to Frontier in 2016.
Frontier previously operated in the Northwest as well but in 2020 sold its regional coverage in Idaho, Montana, Oregon and Washington to new ISP Ziply Fiber.
What does this mean for Verizon and Frontier customers?
Nothing yet, but Verizon indicated an “immediate integration post-close with Verizon’s best-in-class offerings,” which may have an impact on current and future Frontier Fiber customers.
Frontier Fiber and Verizon Fios plans vary in speeds and pricing. Most notably, Frontier Fiber generally has lower rates on comparable speeds, plus faster max speeds with 5Gbps and 7Gbps plans available across the entire fiber footprint. Verizon’s fastest Fios speed tier tops out at 2.3Gbps.
Additionally, the transition from Frontier Fiber to Verizon Fios will potentially bring Frontier customers new TV and mobile bundle options not currently available.
It is unclear what speeds, pricing and bundle options Frontier customers can expect following the acquisition. Frontier did not immediately respond to a request for comment, but CNET will continue to update this post as more details become available.