Frontier Communications Announces Sale of Operations in Washington, Oregon, Idaho, and Montana
FRONTIER COMMUNICATIONS (FTR)
Last frontier communications earnings: 3/31 05:21 pm
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US:NASDAQ Investor Relations:
investor.frontier.com/investor-relations
Company Research
Source: Business Wire
NORWALK, Conn.--(BUSINESS WIRE)-- Frontier Communications Corporation (NASDAQ: FTR) today announced it has entered into a definitive agreement to sell its operations and all associated assets in Washington, Oregon, Idaho, and Montana to WaveDivision Capital, LLC (WDC) in partnership with Searchlight Capital Partners, LLC (Searchlight) for $1.352 billion in cash subject to certain closing adjustments. Frontier’s operations in these states serve more than 350,000 residential and commercial customers as of March 31, 2019 and account for $619 million of revenue, $46 million of net income and $272 million of Adjusted EBITDA1 for the twelve months ending March 31, 2019. The transaction is subject to regulatory approvals and other customary closing conditions, with closing anticipated to occur within one year. “The sale of these properties reduces Frontier’s debt and strengthens liquidity,” said Da
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