WaveDivision Capital must commit to USD50m investment to seal Frontier asset takeover

3 Jan 2020

Washington’s Utilities and Transportation Commission (UTC) has reached a settlement regarding the proposed USD1.35 billion sale of Frontier Communications Northwest to WaveDivision Capital (WDC) and Northwest Fiber. The proposed settlement includes nine conditions intended to protect customers, with WDC obliged to spend at least USD50 million in Washington to increase broadband coverage.

As previously reported by TeleGeography’s CommsUpdate, in May 2019 Frontier entered into a definitive agreement to sell its operations and all associated assets in Washington, Oregon, Idaho and Montana to WDC for USD1.35 billion in cash, subject to certain closing adjustments. WDC is headed by broadband entrepreneur Steve Weed, the founder and former CEO of regional cable operator Wave Broadband.

United States, Frontier Communications, WaveDivision Capital (WDC)