With the USD1.35 billion sale of Frontier Communications Northwest to WaveDivision Capital (WDC) and Northwest Fiber poised to close within the next six weeks, the parties have announced that the spun-off assets will be renamed Ziply Fiber. The acquiring parties say that the deal is expected to close as early as 30 April.
Ziply Fiber said it will begin a ‘transformational improvement’ in services with immediate effect and will invest an initial USD100 million into improving its core network as well as funding fibre build-out projects in all four states. Currently, fibre networks pass almost 31% of the more than 1.6 million residential and business locations in what will become Ziply Fiber’s territory. The company’s goal is to increase the number of fibre-passed locations to more than 80% in the next few years.
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. Other members of the executive team include ex-AT&T and CenturyLink bosses, all of whom live and work in the Northwest.