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FRONTIER COMMUNICATIONS AGREES TO ACQUIRE VERIZON ASSETS CREATING AMERICA'S LARGEST PURE RURAL COMMUNICATIONS SERVICES PROVIDER

About the Transaction:

On May 13, 2009, Frontier Communications (NYSE: FTR) announced the signing of a definitive agreement with Verizon Communications Inc. (NYSE: VZ) to acquire @ 4.8 million access lines from Verizon.

Upon completion of the transaction, Frontier will be the largest pure rural communications provider and the nation's fifth largest incumbent local exchange carrier (ILEC) with more than 7 million access lines, 8.6 million voice and broadband connections (based on 2008 data) and 16,000 employees in 27 states.

The transaction is subject to approval by Frontier shareholders and the satisfaction of customary closing conditions and regulatory approvals, including the Federal Communications Commission and nine states public service commissions. The transaction is expected to be completed in 12 months.

For more information about Frontier and the transaction, click on:

  1. Press releases issued by Frontier and Verizon
  2. Frontier Senior Leadership Team
  3. Frontier CEO discusses Verizon transaction with Jim Cramer of Mad Money, July 13, 2009
  4. Information about Frontier Products and Services
  5. Investor Information



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