Verizon sells its Tampa Bay TV, Internet, Landline Phone Services to Frontier

Combo_Verizon_Frontier1Verizon Communications is selling its telephone, Internet and video operations in Florida and two other states to Frontier Communications for $10.5 billion in cash.

After the scheduled close of the deal, in the first half of 2016, Frontier will provide wireline services to residential, commercial and wholesale customers.

The Verizon properties that Frontier is buying include 3.7 million voice connections, 2.2 million broadband connections, and 1.2 million FiOS video connections in Florida, California and Texas, a statement said.

Those three states are the three remaining Verizon GTE platform states, according to an investor presentation filed with the U.S. Securities and Exchange Commission.

Frontier (NASDAQ: FTR), based in Stamford, Connecticut, earlier converted 13 GTE platform states as part of a 2010 deal with Verizon. Frontier currently operates the bundled phone-Internet-television high-speed FiOS service in Washington, Oregon, Indiana and South Carolina, and its system is ready for expanded FiOS operations, the filing said.

Verizon (NSYE, NASDAQ: VZ) said in its own press statement that it wants to concentrate its wireline operations on the East Coast.Verizon Wireless and Verizon Enterprise Solutions are not part of the deal, Verizon said.