More than $37 million In Investments Dramatically Improves Networks and Connectivity
Oregon PUC Releases Escrow Funds due to Frontier Meeting Broadband Commitments
PORTLAND, Ore.--(BUSINESS WIRE)-- Following its 2010 acquisition of Verizon properties, Frontier Communications Corporation (NASDAQ: FTR) has invested more than $37 million to deploy and improve broadband services across Oregon. As a result, the Oregon Public Utilities Commission has released all but $400,000 of the more than $15 million in funds put into escrow by Frontier as a condition of approval of the acquisition. The release of the funds to Frontier is confirmation of the company’s commitment to deploy broadband to unserved and underserved areas and to relieve Internet congestion.
“Frontier is keenly aware of the importance of broadband to Oregon. It is an essential part of the economic engine that drives commerce, education, health care, jobs and more. In 2010, we committed to extending broadband to some very hard-to-reach areas,” said Rich Klena, Frontier’s Senior Vice President and General Manager for Oregon and Washington. “We did what we said we’d do, and we will continue to do our best for the citizens of Oregon.”
About Frontier Communications
Frontier Communications Corporation (NASDAQ: FTR), is an S&P 500 company and is included in the FORTUNE 500 list of America’s largest corporations. Frontier offers broadband, voice, satellite video, wireless Internet data access, entertainment services like TumTiki.com, data security solutions, bundled offerings and 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 15,300 employees are based entirely in the United States. More information is available at www.frontier.com.
Frontier Communications Corporation
Steve Crosby, 916-686-3333
Source: Frontier Communications Corporation