Verizon to merge with FairPoint in New England, Midwestern states
By Darren Murph 
posted Jan 16th 2007 8:20PM
posted Jan 16th 2007 8:20PM
For you lucky folks in New England who just got access to Verizon's 50Mbps FiOS services, you didn't think those hefty upgrades were sans a cost, did ya? Sure, Verizon's socking it to the high-end customers on that monthly bill, but the huge implementation cost ($18 billion, to be exact) of running all that fiber has persuaded Verizon to "sell the New England landline business as well as lines in several Midwestern states" to get a whopping $1.7 billion in debt wiped from its slate. The purpose of the merger is to free up assets to continue full speed ahead with its extremely costly FiOS rollouts, and since Verizon is intelligently targeting the largest markets (read: most lucrative) first, it's leaving the rural spots for FairPoint to handle. Nearly 3,000 Verizon employees will now be receiving checks from the Charlotte, NC-based FairPoint, with about 600 more expected to switch after the deal is completed. Additionally, shareholders will receive $1 billion of FairPoint common stock in the merger, as both companies attempt to keep everyone smiling throughout the process. If everything goes as planned, which typically never happens in these type deals, the merge will be complete "by year's end," so if you're content with Verizon services up in New England or the Midwest, don't be alarmed if "some FairPoint bill" starts showing up in your mail. [Warning: Read link requires subscription]
too bad you guys made some mistakes in this article. It only pertains to New Hampshire, Maine, and Vermont where FiOS is not deployed. The 50mbps package also is only in Massachusetts and RI...
Verizon would not be ready to dump its baby Massachusetts just after it started getting the ball rolling.
Why is this on Engadget mobile? This only applies to landlines.
Micheal, looks like you made the mistake. FIOS is already rolled out, installed, and used in 16 different communities in New Hampshire.
Do your homework!