This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Frontier Announces Ohio Broadband Commitment And Capital Investment Plan

Frontier Communications Corporation (NYSE: FTR) today reiterated its broadband commitment to the state of Ohio, while also announcing highlights and status of several key initiatives.

During a business community luncheon at The Ohio State University at Marion, Frontier’s Chairman and CEO Maggie Wilderotter highlighted Frontier’s commitment to Ohio, focusing on broadband deployment, capital investment, service improvements and job retention/creation. These commitments were established when the Public Utilities Commission of Ohio (PUCO) approved Frontier’s transaction with Verizon earlier this year. Mrs. Wilderotter was joined by Dr. E. Gordon Gee, President, The Ohio State University, who welcomed Frontier and the educational and economic opportunities afforded by future broadband expansion.

The highlights of Frontier’s Ohio plan include:
  • By December 31, 2013, Frontier will take household broadband availability in its service areas to 85%; and
  • To accomplish this, Frontier will make capital investments of $50 million per year for each of the next three years. Furthermore, if broadband isn’t available to 80% of the households within Frontier’s service area by 2012, the agreement will be extended an additional year, i.e., Frontier will be required to invest an additional $50 million.

During her remarks, Mrs. Wilderotter announced the first round of investment. “Our local engineering and operations teams have been identifying locations for broadband deployment, with the first new areas scheduled to come on line starting the fourth quarter of this year. We’ll be sharing the specific areas in the coming weeks. To accomplish the roll-out, we are already upgrading our physical plant and equipment and training employees so that we can bring high-speed Internet to the underserved and unserved in Ohio.”

In addition to broadband expansion, Frontier committed to maintaining and/or improving service quality metrics throughout Ohio.

Mrs. Wilderotter also commented on job retention and growth. “We know that jobs matter. We are retaining the more than 1,000 employees here in Ohio. Recently, we announced the hiring of more than 30 positions including technical managers, technicians and splicers who will be supporting our network. These are well paying jobs that provide solid benefits in addition to a career path.” Mrs. Wilderotter emphasized the company’s commitment to a 100 percent U.S.-based workforce and stated that as part of the transaction, Frontier is bringing back to the United States 500 jobs outsourced to India by Verizon Communications.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
FTR $5.35 4.50%
AAPL $110.57 -0.66%
FB $92.01 -0.85%
GOOG $640.09 -0.83%
TSLA $232.24 -3.80%


Chart of I:DJI
DOW 16,858.91 +68.72 0.41%
S&P 500 1,988.61 +8.69 0.44%
NASDAQ 4,774.3280 +25.9670 0.55%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs