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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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 www.FairPoint.com. You can also connect with FairPoint on Twitter ( http://www.twitter.com/myfairpoint) and Facebook ( http://www.facebook.com/myfairpoint).

SOURCE FairPoint Communications, Inc.

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 This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,086.63 -26.91 -0.16%
S&P 500 1,987.01 +3.48 0.18%
NASDAQ 4,473.6970 +17.6810 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs