Verizon Communications Inc. and Frontier Communications Parent, Inc. announced that they have received all required regulatory approvals to complete their $20 billion acquisition, including debt, on January 15, 2026. The clearance removes the last regulatory hurdle and paves the way for the transaction to close on January 20, 2026.
The deal will expand Verizon’s fiber footprint to nearly 30 million passings across 31 states and Washington, D.C., creating significant cross‑sell opportunities for Verizon’s wireless and broadband businesses. The acquisition is a key component of CEO Dan Schulman’s strategic transformation, which seeks to shift Verizon from a technology‑first to a customer‑first model and to accelerate the convergence of 5G and fiber services.
Frontier’s common stock will be delisted from Nasdaq on January 16, 2026, the last day of trading, as part of the transaction. Frontier’s balance sheet includes $12 billion of debt and a negative free‑cash‑flow of $1.4 billion in the last twelve months, which Verizon’s purchase is expected to address. Frontier’s 2025 Q3 results showed revenue of $1.55 billion and a net loss of $0.30 per share, reflecting the company’s ongoing turnaround in its fiber business.
Investors reacted positively to the regulatory clearance, citing Verizon’s strategic shift, the expected synergies from combining Frontier’s fiber network with Verizon’s 5G infrastructure, and the company’s attractive 6.8% dividend yield. The announcement also reinforced confidence in Verizon’s ability to execute its cost‑reduction plan, which included a workforce reduction of more than 13,000 positions in late 2025 and a focus on operational efficiency.
Dan Schulman said the acquisition “marks a significant milestone in Verizon’s evolution and is a bold step forward in our transformation to regain market leadership.” He added that the combined company will be uniquely positioned to offer bundled mobility and home‑internet services across a substantially expanded footprint. Nick Jeffery, Frontier’s former president and CEO, noted that the deal would provide a clear exit for shareholders and support Frontier’s continued investment in fiber expansion.
The transaction is expected to generate synergies through cost savings, network integration, and cross‑sell opportunities. Verizon plans to leverage Frontier’s fiber assets to accelerate its goal of reaching 35–40 million fiber passings, while Frontier’s existing customer base will provide a new revenue stream for Verizon’s wireless and broadband businesses. The acquisition also strengthens Verizon’s competitive position against T‑Mobile and AT&T in the broadband and 5G markets.
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