ALBANY, N.Y. — The New York State Public Service Commission (PSC) approved the sale of Frontier Communications Parent, Inc. to Verizon Communications Inc. But, what does this mean for you?
With the sale, Verizon must invest millions into broadband and closing the digital divide for New Yorkers.
READ MORE: Verizon is buying Frontier in $20B deal to strengthen its fiber network
The deal brings $150 million from Verizon directly to its Small Business Accelerator Program in New York.
Verizon will also invest at least $40 million towards expanding high-speed broadband internet to underserved communities, and an additional $90 million to “overbuild” areas of both Verizon and Frontier.
“This transaction will expand fiber-based broadband services to the underserved and unserved,” said Commission Chair Rory M. Christian.
Verizon plans to also invest another $20 million in New York to close the digital divide.
To read more about the deal and what it means for New Yorkers, click here.
NYSPSC approves Verizon’s purchase of Frontier, pledging $150M to small businesses WHEC.com.
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