Frontier Communications (NASDAQ:FTR) announced today that it has applied for more than $71.5 million from the Connect America Fund (CAF) to support the delivery of broadband to an additional 119,000 households. The funding, if awarded by the Federal Communications Commission (FCC), will allow Frontier to accelerate broadband availability in its high-cost, unserved areas across multiple states.
Frontier’s proposal to bring broadband to additional new locations would be on top of the $2.2 billion the company has invested of its own capital over the past three years to increase broadband access and improve network infrastructure across Frontier’s territory. Frontier also participated in the first round of CAF support last year and is in the process of deploying broadband with those funds to approximately 92,000 new locations. Over the past three years, Frontier markets have seen an average increase in broadband penetration from as low as 62% to over 90%.
Kathleen Abernathy, Executive Vice President of External Affairs, said “Frontier is a broadband company focused on delivering the life-changing benefits of broadband across our entire service area. CAF support is an important component of Frontier’s continued strategy to expand broadband to high-cost, low-density areas across rural America. We look forward to continuing to work with the FCC on this critical initiative.”
About Frontier CommunicationsFrontier Communications Corporation (NASDAQ:FTR) offers broadband, voice, satellite video, wireless Internet data access, data security solutions, bundled offerings, specialized bundles for residential customers, small businesses and home offices and advanced business communications for medium and large businesses in 27 states. Frontier's approximately 14,100 employees are based entirely in the United States. More information is available at www.frontier.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV