Verizon Commits to Invest $150 Million to Expand its High-Speed Broadband Network To Underserved Communities, Advance Digital Inclusion, Enhance Service Quality and Network Reliability, and Support Small Businesses Across New York State

Verizon to Invest $150 Million in its Small Business Accelerator Program in New York

ALBANY — The New York State Public Service Commission (Commission) today approved the transfer of control of Frontier Communications Parent, Inc. (Frontier) and its subsidiaries to Verizon Communications Inc. (Verizon).  As part of the Commission’s approval, Verizon is required to make investments that will strengthen New York’s connectivity, expand digital opportunity, and accelerate economic growth.

“This transaction will expand fiber-based broadband services to the underserved and unserved,” said Commission Chair Rory M. Christian. “In addition, it will create a company with a stronger financial position that will bring improvements to business operations, optimize Frontier's networks, expand service offerings, and improve service quality to existing customers.  The ability to bundle Frontier service in combination with Verizon mobile wireless will benefit Frontier’s existing customers and enhance the competitiveness of Frontier’s operations.”

Under the Commission’s conditions for approval, Verizon will invest at least $40 million to extend high-speed broadband to unserved and underserved addresses; allocate at least $90 million to pass additional “overbuild” addresses in the service territories of both Verizon and Frontier which affords benefits to consumers that are typical in competitive markets such as enhanced consumer choice, innovation of new products and services, improved operations by providers, and competitive rates. In addition, Verizon will invest at least $20 million in New York to support efforts aimed at closing the digital divide and advancing digital inclusion that help ensure households have the tools to thrive in the digital economy.

Separately, New York will benefit directly from Verizon’s $5 billion national Small Business Accelerator Program, of which $150 million is dedicated to New York. These funds will support local entrepreneurs, help small businesses integrate digital tools, and deepen the state’s participation in a modern, connected economy.

The Communications Workers of America (CWA), the labor union representing both Verizon's and Frontier's bargaining workforces, supports Commission approval of the transaction. Commission approval is also conditioned upon other requirements including but not limited to job protections, service quality and network reliability commitments, financial conditions, and no recovery of goodwill and transaction costs through rates. 

Verizon and its predecessor companies have been providing communications services in New York State since the late nineteenth century. Verizon provides a wide range of wireline services and fixed and mobile wireless services, including broadband Internet access. Verizon has more than 12,000 employees and millions of customers in the state, and in 2023 invested over $2 billion in plant and equipment in New York.

Frontier and its nine subsidiaries in New York have more than 100,000 access lines in New York State and it has deployed fiber to more than 200,000 locations in New York. In its initial announcement of its $20 billion acquisition of Frontier, Verizon said it would increase its scale with 2.2 million fiber subscribers and will extend Verizon’s network reach to 25 million premises across 31 states and Washington, D.C.

Verizon says the acquisition of Frontier, the largest pure-play fiber internet provider in the U.S., will significantly expand Verizon's fiber footprint across the nation, accelerating Verizon’s delivery of mobility and broadband services to current and new customers.

Today’s decision may be obtained by going to the Commission Documents section of the Commission’s Web site at www.dps.ny.gov and entering Case Number 24-C-0618 in the input box labeled "Search for Case/Matter Number". Many libraries offer free Internet access. Commission documents may also be obtained from the Commission’s Files Office, 14th floor, Three Empire State Plaza, Albany, NY 12223 (518-474-2500). If you have difficulty understanding English, please call us at 1-800-342-3377 for free language assistance services regarding this press release.