Verizon Sells 4.8 Million Landlines for Stock

In a move to focus on its wireless and FiOS businesses, Verizon(VZ Quote) announced today that it is selling 4.8 million of its landlines to Frontier Communications(FTR Quote) for $5.25 billion in stock.

While the deal has its risks for Frontier -- in light of the fact that increasing numbers of consumers are relying on cell phones and eliminating home phone lines -- the spin-off allows Verizon to pay down debt and fund its goal to provide speedier Internet and television service.

During the "Mad Money" Lightning Round on Tuesday, Jim Cramer said he is a fan of the company and pulling the trigger on Verizon. ...