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

Public Service Board Approves FairPoint Plan To Invest In 'Last-Mile' Broadband

SOUTH BURLINGTON, Vt., Feb. 16, 2012 /PRNewswire/ --  The Vermont Public Service Board today approved a plan that will see FairPoint Communications investing nearly $7 million to expand its broadband network and bring high-speed Internet to "last-mile" Vermonters.

FairPoint was joined in its request by the Vermont Department of Public Service, which agreed that investing past penalty assessments for broadband buildout helps achieve the state's goal to bring high-speed Internet service to all Vermonters.

"The Board's decision now allows FairPoint Communications to redirect past penalties from 2008, 2009 and 2010 and put them to a much better use," said Mike Smith, Vermont state president for FairPoint.

"This is great news for Vermonters and it advances Governor Shumlin's goal of universal broadband and cellular coverage by the end of 2013," Smith said.

"The Governor and the Legislature know that high-speed Internet availability will economically benefit all Vermonters and is a key milestone to Vermont's future success; this creative use of funding will help get broadband to more Vermonters," Smith added.

Since 2008, FairPoint has invested almost $80 million and added 1,100 miles of new fiber in Vermont. Nearly 90 percent of FairPoint customers in Vermont now have high-speed access.

FairPoint Communications will work with the Department of Public Service and Vermont Telecommunications Authority to select areas for expansion from the state's list of target communities. Projects are slated to be completed in 2013.

About FairPoint Communications, Inc.FairPoint Communications, Inc. (NasdaqCM: FRP) is a leading communications provider of high-speed Internet access, local and long-distance phone, television and other broadband services to customers in communities across 18 states. Through its fast, reliable network, FairPoint delivers affordable data and voice networking communications solutions to residential, business and wholesale customers. FairPoint delivers VantagePoint(SM) services through its resilient IP-based network in northern New England. This state-of-the-art network provides Ethernet connections that support video conferencing, e-learning and other broadband based applications. Additional information about FairPoint products and services is available at You can also connect with FairPoint on Twitter ( and Facebook (

SOURCE FairPoint Communications, Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
AAPL $94.30 -0.92%
FB $118.08 0.55%
GOOG $695.81 0.50%
TSLA $234.18 0.80%
YHOO $35.97 -0.11%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs