Frontier Communications Parent, Inc.

Frontier is a communications and technology provider offering broadband services to 3.1 million broadband customers across 25 states as of December 31, 2024. The company builds infrastructure using its fiber-optic network and cloud-based solutions to enable secure high-speed connections. Frontier's investment strategy is based on the increasing demand for high-speed broadband, driven by over-the-top video consumption, more connected devices per household, and greater demand for upstream data like videoconferencing and gaming. The company aims to provide symmetrical high-speed connectivity through its fiber-optic technology, which it believes offers competitive advantages with faster upload and download speeds and lower latency. In August 2021, Frontier announced a plan to extend fiber to 10 million total locations. The company prioritizes these expansion activities to locations expected to yield the highest investment returns. As this fiber expansion plan is implemented, Frontier anticipates a significant shift in its business mix, with a larger portion of revenue coming from fiber services. On September 4, 2024, Frontier entered into a merger agreement with Verizon Communications Inc., under which Verizon will acquire Frontier for $38.50 per share in cash. This represents a premium of 43.7% to Frontier's 90-Day volume-weighted average share price on September 3, 2024. The merger is expected to close by the first quarter of 2026, subject to regulatory approvals and other customary conditions.