Verizon May Acquire Fiber Internet Competitor Frontier

Verizon Communications Inc. could soon buy up all the assets of Frontier Communications Parent Inc. in a cash deal, according to reporting from Bloomberg’s Michelle F. Davis. If the plan goes through, Verizon would add 2.2 million fiber connections in one fell swoop.

The deal could be announced as early as Thursday, Sept. 5, but the companies involved have not yet made public statements about the possible sale.

Both companies provide home internet service to homes and businesses in the U.S. Verizon’s biggest fiber network is based in the Northeast, in states including New York, Maryland, Delaware, Massachusetts, and Virgina. Verizon also offers fixed wireless home internet, which piggybacks off the company’s mobile 4G LTE and 5G mobile networks nationwide.

For the second quarter of 2024, Verizon reported 11.5 million total broadband subscribers, including 3.8 million new fixed wireless subscribers.

Frontier, meanwhile, offers fiber internet and DSL internet. Its biggest networks are in the Great Lakes region, Texas, and California but it operates in 25 states.

In its most recent quarterly report to stockholders, Frontier boasted a record number of new fiber customers, with 7.2 million total locations passed with fiber. The company also made news announcing its new offering of speeds up to 7Gbps throughout its fiber footprint.

Other big companies have been busy buying up fiber too. Major cell phone and 5G home internet provider T-Mobile recently announced it plans to acquire the internet service provider Metronet in a joint deal with KKR & Co.

What do the takeovers mean for customers?

We don’t know yet if this Verizon deal is a sure thing, or if it will pass regulatory muster. But it’s not uncommon for big internet companies to take over smaller ones.

If the acquisition impacts you, watch for updates in your email and your account, and be prepared to switch plans when the time comes. In the best case scenario, you could save money every month and benefit from fast, reliable fiber laid right to your front door.