Verizon and Frontier Communications Make $8.6 Billion Deal

Cutting the land line

Do you remember rotary telephones? I’ve never owned one, but I remember my parents having a couple. Spinning the dial took forever if you compare it with today’s speed dial and voice-activated wireless devices, but there was something about guiding your finger to its destination in the cycle, as well as the satisfying sound of the spinning dial that followed. Now that’s the mark of a technological dinosaur. In fact, wired land lines are becoming antiquated, and some of the biggest telecommunications companies in the land are letting them go.

The recent Verizon and Frontier Communications deal is a case in point. Verizon is selling their land lines to Frontier Communications so they can focus on other areas of their business. It will no doubt save them money in the long run, just as cutting the land line (well, VoIP is OK) can keep you from having to take out that extra installment loan or use the credit card each month.

An $8.6 billion dollar deal

An Agence France-Presse report in the Sydney Morning Herald states that Verizon and Frontier Communications have entered into an $8.6 billion dollar deal where Verizon announced agrees to sell its land line service in 14 American states to Frontier Communications. This is an all-stock deal; Verizon shareholders will get $5.3 billion in Frontier shares, which will give them a 68-percent stake. ... click here to read the rest of the article titled "Verizon and Frontier Communications Make $8.6 Billion Deal"