The internet is one of the greatest inventions of our lifetimes, and the longer it sticks around, the more that we demand of it. We want faster speeds, which explains why we’re already hearing about 5.5G and 6G. If you’re looking for the fastest internet you can get in our modern era, you should be looking at fiber.
Verizon obviously knows this and plans to expand its fiber network. To make this easier for themselves, they plan to acquire Frontier Communications to acquire the company’s entire existing fiber network infrastructure.
Verizon Will Put Down A Whopping $20 Billion To Grab Onto Frontier’s Massive Fiber Business
When it comes to the internet, everyone likes things fast. The faster, the better. The internet speeds that we are able to enjoy through 5G are fast enough for most people. You really don’t need much better than that to scroll through social media, stream movies on Netflix, or casually play some games online with your friends. However, some people require a lot of speed and a lot of reliability, and “regular” internet won’t cut it.
This is where broadband using a fiber optic connection comes in. Internet transmitted over fiber optic cables is pretty much the fastest kind of internet that you can get and there’s a reason why a lot of people pay the extra money to get a fiber internet service. Setting up fiber optic infrastructure requires a lot of work and money though, and Verizon knows this. That’s a big part of why it just announced its plans to buy Frontier for $20b.
Verizon is going to be getting a whole lot out of this, beyond just the existing fiber infrastructure. Frontier has 2.2 million fiber internet subscribers across 25 states of the US, which means that Verizon will now be able to boast of about 10 million subscribers served by its fiber networks across 31 states and the country’s capital. That’s a big boost and will bring it a lot closer to competing with AT&T, the leading fiber provider in the US.
Frontier Communications Has Had Some Rocky Years, And Verizon Will Finally Put It Out Of Its Misery
Frontier Communications has a pretty sizable foothold when it comes to fiber in the United States. It only makes sense that one of the biggest carriers looking to expand into fiber would see Frontier as a suitable target. However, the company has had to deal with a whole lot in the last few years.
In 2020, the company filed for bankruptcy and had to undergo a restructuring (to a “leaner” business model) the year after. That same year, it went public to help with its money troubles. In 2021, it also had to struggle with being sued by the FTC which claimed it was misrepresenting its speed. The company, already struggling with money, had to pay an $8.5m fine.
Verizon, one of the unshakable big three, has come to take over the company and this should mark the end of Frontier’s troubles now that a more stable company has taken the reins. They can finally breathe a long sigh of relief.
