Oregon is 6th state to OK Frontier, Verizon deal

Mon, 03/01/2010 - 7:20am
The Associated Press

SALEM, Ore. (AP) – Oregon became the sixth state to approve Frontier Communications Corp.'s purchase of the local fixed-line phone business of Verizon Communications Inc.

The deal, expected to close in the April-June quarter, now requires the approval of the Federal Communications Commission and utilities regulators in three more states: Illinois, Washington and West Virginia.

The transaction has already cleared a federal antitrust review and received a favorable ruling from the Internal Revenue Service, as well as the blessing of regulators in Arizona, California, Nevada, Ohio and South Carolina.

The companies announced the deal last May. Frontier is to acquire Verizon's local fixed-line phone business in 14 states, including Arizona, Idaho, Illinois, Indiana, Michigan, Nevada, North Carolina, Ohio, Oregon, South Carolina, Washington, West Virginia and Wisconsin, along with some infrastructure in California.

Frontier said it also received the necessary approvals in Oregon to take control of Verizon's local cable TV franchises in the state.

Frontier shares rose 2 cents to $7.81 in after-hours trading, after closing up 12 cents at $7.79 on Friday. Verizon shares rose 8 cents to $29.01 in extended trade after closing up a nickel to $28.93.

More Broadband Direct 3/01/10:
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•  Comcast's Project Cavalry rides through Pa. 
•  Charter gives broadband subs a boost
•  Cox launches Caller ID on TV in Baton Rouge
•  NCTA chimes in on Cablevision must-carry challenge
•  Dish Network's Q4 profit falls; op gains subs
•  Cablevision launches Optimum Business Benefits program
•  Arris unbundles Moxi 3-tuner model 
•  Verecloud aims to enrich SMB services
•  Oregon is 6th state to OK Frontier, Verizon deal
•  Topeka aims to become Google Internet test site
•  Verizon sued over $1.99 data charges
•  New Sprint campaign touts value 
•  Survey: 26% of Americans get news via phone 



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