What is John Stratton doing now?
Stratton currently serves on the Board of Abbott Laboratories and General Dynamics. The U.S. Bankruptcy Court for the Southern District of New York confirmed the Company’s Plan of Reorganization on August 21, 2020. The Company is targeting emergence from Chapter 11 in early 2021.
Who is John Stratton?
John Stratton is the Executive Chairman of Frontier Communications, one of the largest providers of fiber-optic broadband networks in the U.S. with operations spanning 25 states. Over the next few years, the Frontier fiber network will be massively expanded, bringing “Gigabit America” to millions of consumers.
Is Verizon buying Frontier back?
Under the deal, Verizon will create a separate company for the assets being sold. That company will simultaneously be spun off to shareholders and merged with Frontier. It will carry $3.3 billion of debt that will be assumed by Frontier. The transaction is expected to close within 12 months, the companies said.
Is Frontier getting rid of cable?
Frontier Communications is no longer offering cable television to its new customers, but the Public Utilities Regulatory Authority says it does not appear to be illegal and has rejected the state’s request to investigate the matter.
Is Frontier cable going out of business?
Frontier filed for bankruptcy in April 2020 with a plan to cut more than $10 billion of its $17 billion debt load by handing ownership to bondholders. It was the biggest telecom filing since WorldCom in 2002, reflecting years of decline in its business of providing internet, TV and phone service in 29 states.
Who will replace Frontier Communications?
Frontier Communications’ Northwest operations and assets are now Ziply Fiber. Ziply is a new company that is investing $500 million to improve its network and service. Frontier sold the assets to WaveDivision Capital in partnership with Searchlight Capital Partners for $1.35 billion.