Search:  

 
 
   News
newer
story category Verizon Sells ME, NH, VT Networks
Fairpoint deal officially closes...
(old news - 01:37PM Monday Mar 31 2008)
tags: business · telco · Verizon Online DSL · Fairpoint Communications
Verizon and Fairpoint Communications have officially closed the deal on Verizon's transfer of their phone & DSL networks in Maine, New Hampshire and Vermont to Fairpoint Communications (1.6 million landline customers and 230,000 DSL users are impacted). $88 billion Verizon is the real winner in the deal, shedding roughly $1.5 billion in debt and getting a $600 million tax write off. The $270 million Fairpoint quickly becomes the nation's eighth largest phone company, and is now tasked with fulfilling promises made to New England during the courtship process (rural expansion, faster speeds, the moon and sky).

Related:
  1. Vermont Regulators Deny FairPoint Deal
  2. New Hampshire Approves Fairpoint Deal
  3. Verizon/Fairpoint Deal a Lose-Lose Scenario For Consumers
  4. Special Sunday Meeting May Block Verizon-Fairpoint Sale
  5. FairPoint Extends Cutover, Again
  6. Fairpoint Takes Control Of Verizon Networks Saturday
  7. Unions Ramp Up Opposition To Verizon/Frontier Deal
  8. FiOS Growth Slows
Forums » Verizon Sells ME, NH, VT Networks
view: topics flat text 
Post a:

Pathfinder
Dazed Confused
Premium
join:2000-03-26
Mount Vernon, NY

Good

Now all those who were screaming to get rid of New Englad Tel./NYNEX/Bell Atlantic/Verizon should be very happy.

GOLFnSUN
Enjoy the sun
Premium
join:2002-03-03
Avalon, NJ
·Sprint Mobile Broa..
·Comcast

Re: Good

said by Pathfinder See Profile :

Now all those who were screaming to get rid of New Englad Tel./NYNEX/Bell Atlantic/Verizon should be very happy.

»www.youtube.com/watch?v=G_HTus_MZes


The Verizon stockholders are happy. They gave up no Verizon stock and get 60% of $270 million Fairpoint.
--
My BLOG .. .. Internet News .. .. My Web Page

KrK
Heavy Artillery For The Little Guy
Premium
join:2000-01-17
Tulsa, OK

Re: Good

The slavesumers got bent over--- again.

WhyUs

@harvard.edu
Fairpoint will be bankrupt in under a year, Hell the've gone bankrupt twice before and New England will be lucky to get tin cans and a string for service.

gaforces
United We Stand, Divided We Fall

join:2002-04-07
Santa Cruz, CA

Re: Good

2 strings so they will have full duplex
bgd1973

join:2005-11-23
Bangor, ME

said by WhyUs :

Fairpoint will be bankrupt in under a year, Hell the've gone bankrupt twice before and New England will be lucky to get tin cans and a string for service.
That has been a mystery since the late seventies broadband...
How many millions of cutomers in 100 square miles does it take? the gaol to be repulsively wealthy to the point of gov't interaction hopefully has hindered such excuse to go bankrupt for an incredible profit on lines they haven't seviced in 50 freakin years.
I am expecting 7mpbs on my downtown bangor street anytime....for the same freakin price dammit.

I am a faithful broadband/dsl customer since summer 1999:

I have dished out nearly 5000 dollars, and never once got serviced, did all hook ups myself, even ran new wiring an an apartment rental to follow this evolution...
not to mention the games they play, once thier internet connect is sparked up, with marketing ads...making billions of pennies for everything I do...

swintec
Premium
join:2003-12-19
Alfred, ME
·RapidVPS
·surpasshosting
·Sprint Mobile Broa..
·VoicePulse
·RoadRunner Cable

Wheres My DSL!!

Why dont I have DSL available to me yet Fairpoint? All joking aside, clock starts now in my book. I do not even have landline service from the phone company so I wont be able to watch the bill rise, but I will keep a lookout for DSL availability.
--
BlockNews.Net
hottboiinnc
ME

join:2003-10-15
Cleveland, OH
·Time Warner Cable
·buckeye cable

Re: Wheres My DSL!!

they said they will expand DSL to the rural areas. They DO NOT say how fair their expansion will go and how many people it actually will cover. Hell according to what they say and the states approved- as long as they cover roughly 2 houses per exchange that's expanded.

ropeguru
Premium
join:2001-01-25
Bridgeport, WV
clubs:
·VOIPo

All that will happen...

is Fairpoint will go under and Verizon will buy the entire area, and then some, back even cheaper than what they sold it for. So they will get the area cheap and still get to keep all the tax benefits and other write offs from the sale.

It is definitely a win/win for Verizon.

supergirl

join:2007-03-20
Pensacola, FL
·Cox VOIP
·Skype
·Cox HSI
·AT&T Southeast
·magicjack.com

Re: All that will happen...

said by ropeguru See Profile :

is Fairpoint will go under and Verizon will buy the entire area, and then some, back even cheaper than what they sold it for. So they will get the area cheap and still get to keep all the tax benefits and other write offs from the sale.

It is definitely a win/win for Verizon.
OMG!!! They finally sold it to Canada! Well, that's where people down South think Maine is just like they thought, "Why is that Canadian Mitt Romney running for President?"
--
Saving the world keeps me busy. However, I find Earth very primitive from my home planet of Krypton.
-Supergirl

ropeguru
Premium
join:2001-01-25
Bridgeport, WV
clubs:
·VOIPo

Re: All that will happen...

said by supergirl See Profile :

said by ropeguru See Profile :

is Fairpoint will go under and Verizon will buy the entire area, and then some, back even cheaper than what they sold it for. So they will get the area cheap and still get to keep all the tax benefits and other write offs from the sale.

It is definitely a win/win for Verizon.
OMG!!! They finally sold it to Canada! Well, that's where people down South think Maine is just like they thought, "Why is that Canadian Mitt Romney running for President?"
Where in the he!! did I mention Canada and did I even imply that Maine was part of Canada. And get rid of the attitude of that everyone "down south". Just because you 'up north" have your noses so high in the air doesn't mean we don't know geography. But hey, you might as well belong to them anyway!!!

OSUGoose

join:2007-12-27
Columbus, OH
clubs:

Re: All that will happen...

uh...shes from FL too re re.

Boogeyman
Drive it like you stole it
Premium
join:2002-12-17
Huntsville, AL

Re: All that will happen...

Shes from NORTH Florida though. That few hundred miles makes a difference ya know :P

ropeguru
Premium
join:2001-01-25
Bridgeport, WV
clubs:
·VOIPo

Re: All that will happen...

said by Boogeyman See Profile :

Shes from NORTH Florida though. That few hundred miles makes a difference ya know :P
hehehe... I am used to S. Fl where the demographics are those from other countries to the south and those states and countries north of the Mason Dixon line.

Boogeyman
Drive it like you stole it
Premium
join:2002-12-17
Huntsville, AL

Re: All that will happen...

Yeah, N FL and S FL are like different states. Up here is redneckville, down there its retirementville and New Cuba.

supergirl

join:2007-03-20
Pensacola, FL
·Cox VOIP
·Skype
·Cox HSI
·AT&T Southeast
·magicjack.com

said by Boogeyman See Profile :

Shes from NORTH Florida though. That few hundred miles makes a difference ya know :P
No, I'm from NYC. Just a lucrative job here right now.
--
Saving the world keeps me busy. However, I find Earth very primitive from my home planet of Krypton.
-Supergirl

davoice

join:2000-08-12
Saxapahaw, NC
Selling Vermont and New Hampshire to Canada is the smartest suggestion I've heard in a LONG time!



}Davoice
BosstonesOwn

join:2002-12-15
Everett, MA
clubs:
·Comcast
·Comcast Formerly ..

Re: All that will happen...

Can we do the same with Northern Maine ? We can get lobsters And sell off a huge chunk to the canucks , who like all the snow and rural areas.
--
"It's always funny until someone gets hurt......and then it's absolutely friggin' hysterical!"
whiteyonenh

join:2004-08-09
Keene, NH
clubs:
·RoadRunner Cable


1 edit
said by supergirl See Profile :

OMG!!! They finally sold it to Canada! Well, that's where people down South think Maine is just like they thought, "Why is that Canadian Mitt Romney running for President?"
HAHA! That is so true!

On a serious note, this sale is what I believe to be a screwing of the VT, NH, ME consumers. Glad I don't do any business with either company, and nor will I ever as long as my cable internet continues to blow them away. Go TWC and Sprint SERO!

EDIT:Spelling

VWSpeedRacer

join:2002-10-06
Essex Junction, VT
clubs:

The good times are over!

I predict that Comcast will be the more affordable option pretty soon.
shit

join:2003-07-14
Skowhegan, ME
·Great Works Internet

Re: The good times are over!

It's time to enter the communications dark ages...

Hopefully my internet bill won't go up, I remember when they ended line sharing a few years ago, and my bill from GWI(independent isp) went up by $5. Hopefully we won't have to face another increase like this again. As far as fiber goes, it will be up to the independent companies or the government.
ElJay

join:2004-03-17

Re: The good times are over!

As long as they don't screw up GWI, I don't care what Fairpoint does!
hottboiinnc
ME

join:2003-10-15
Cleveland, OH
the only ones that ended linesharing was the gov't. Just VZ and ATT had louder voices and pockets when it came down to it.
Kearnstd
Elf Wizard
Premium
join:2002-01-22
Mullica Hill, NJ

600mil tax write off why?

didnt they sell something? shouldnt they have to infact pay tax on that sale? i mean if i sold my car New Jersey would expect me to declare that income.
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports

swintec
Premium
join:2003-12-19
Alfred, ME
·RapidVPS
·surpasshosting
·Sprint Mobile Broa..
·VoicePulse
·RoadRunner Cable

Re: 600mil tax write off why?

said by Kearnstd See Profile :

didnt they sell something? shouldnt they have to infact pay tax on that sale? i mean if i sold my car New Jersey would expect me to declare that income.
To us mere mortals, yes we do, if you are a big corporation, you are above everything.
--
BlockNews.Net

Boogeyman
Drive it like you stole it
Premium
join:2002-12-17
Huntsville, AL

Re: 600mil tax write off why?

Maybe BBR should incorperate so we can all enjoy tax breaks. We can be like every other company, just make up important sounding positions and viola, we're all important executives. I want to be Executive in charge of the Procrastination. Anyone who wants to procrastinate, file the paperwork and I'll get to it when I feel like it But go ahead and procrastinate, because I'll just keep putting off reprimands for unauthorized procrastinating.

Seriously though, that is complete and utter CRAP that they dont have to pay taxes on the sale. I think there should have also been a clause saying that they couldnt ever buy it back if it was up for sale later.
RadioDoc
58ef2c0
Premium,ExMod 2000-03
join:2000-05-11
·AT&T Midwest

Re: 600mil tax write off why?

said by Boogeyman See Profile :

Maybe BBR should incorperate
It's already owned by a LLC.
--
Toolmaster of La Grange.

Boogeyman
Drive it like you stole it
Premium
join:2002-12-17
Huntsville, AL

Re: 600mil tax write off why?

*Sigh* Another dream killed by a good clean headshot of fact.
Sammer

join:2005-12-22
Canonsburg, PA

said by Kearnstd See Profile :

didnt they sell something? shouldnt they have to infact pay tax on that sale?
Technically it's a reverse morris trust where Verizon spun something off to their shareholders rather than a sale.

Boogeyman
Drive it like you stole it
Premium
join:2002-12-17
Huntsville, AL

Re: 600mil tax write off why?

I have no idea what that means. Can you elaborate?
RadioDoc
58ef2c0
Premium,ExMod 2000-03
join:2000-05-11
·AT&T Midwest

Re: 600mil tax write off why?

said by Boogeyman See Profile :

I have no idea what that means. Can you elaborate?
This might help. Think of it as creating a separate company which then merges with another. The VZ shareholders have an interest in spinoff and become shareholders of the resulting merged company as well.

The idea is to not have a "sale" which triggers things like capital gains taxes, etc., but more of a reorganization. That's not a fully accurate description though...the technicals are pretty complex to pass both the IRS and court ruling conditions.
--
Toolmaster of La Grange.

See 6 replies to this post
Kearnstd
Elf Wizard
Premium
join:2002-01-22
Mullica Hill, NJ
so basicly with a slight of hand and some fancy paperwork corporations can buy and sell divisions/assets tax free?
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports
Sammer

join:2005-12-22
Canonsburg, PA

Re: 600mil tax write off why?

said by Kearnstd See Profile :

with a slight of hand and some fancy paperwork
It's actually called the Bar as in legal profession. If your a multi-billion dollar corporation you too can for a price benefit from laws written of, for, and by lawyers.
Kearnstd
Elf Wizard
Premium
join:2002-01-22
Mullica Hill, NJ
im sure they could claim your IP transerfed some of their movies. i mean you dont even need a PC to get sued!
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports

Matt_

@comcast.net

Comcast New England waiting to Pounce?

I Wonder if the execs at Comcast are just waiting for Fiarpoint to fail in New England so they can buy the lines at a steal and have the market to themselves
EPS

join:2008-02-13
Hingham, MA

Re: Comcast New England waiting to Pounce?

But why would Comcast want telephone lines?
erikthebean

join:2007-06-25
Manchester, NH

Re: Comcast New England waiting to Pounce?

so comcast can have a traditional pstn to work off of instead of their private voip system that is remarkable, but still isnt a pstn network
hottboiinnc
ME

join:2003-10-15
Cleveland, OH
·Time Warner Cable
·buckeye cable

Re: Comcast New England waiting to Pounce?

they don't want PSTN. They're shutting that network down. But hell if you own all the customers you can pretty much control everything. Maybe Comcast would split them off to their own company. or TWC and Comcast buy them form a separate company- and be done with it.
patcat88

join:2002-04-05
Jamaica, NY

FIOS in NH

So what happens to the FIOS system already deployed in NH? Will Fairpoint shut it down?

»newscenter.verizon.com/press-rel···29709957
Kearnstd
Elf Wizard
Premium
join:2002-01-22
Mullica Hill, NJ

Re: FIOS in NH

they cant legally. everyone who got FiOS that is their land line as the copper no longer goes to their home.
--
[65 Arcanist]Filan(High Elf) Zone: Broadband Reports
patcat88

join:2002-04-05
Jamaica, NY

Re: FIOS in NH

Will they allow new customers onto what was built? or is FIOS grandfathered and all new service orders will be over copper?
EPS

join:2008-02-13
Hingham, MA
As far as I know they'll keep it but won't expand it- but I wonder about maintenance, if parts of it go down in a storm will Fairpoint have the capability to rebuild it or will they just replace it with copper?

roymustang
Premium
join:2002-01-12
Oxford, MS

My condolences

to the new Fairpoint customers.
majortom1029

join:2006-10-19
Lindenhurst, NY

wifi

Wouldnt it be easier for fairpoint to do wimax or wifi to their customers acrosss these states instead of dsl?

n1zuk
My wood is stacked
Premium
join:2001-10-24
South Burlington, VT
·Future Nine Corpor..
·ViaTalk
·Comcast

Re: wifi

said by majortom1029 See Profile :

Wouldnt it be easier for fairpoint to do wimax or wifi to their customers acrosss these states instead of dsl?
I grew up on LI. Now I live in Vermont. We got *REALLY BIG* hills around here. And in Vermont, you're not allowed to put anything on those hills...
--
New to Forum Life? Click here and learn.

retrogame

join:2003-04-14
Auburn, MA

Re: wifi

Which is why almost every one of them has antennas and other stuff at the peak.

fioscannotbe

@fidelity.com

Verizon Sells ME, NH, VT Networks

Once Fairpoint goes belly up in a couple of years, Verizon will pick it up for a song, and resell it. Why would they keep it they didn't want us in the first place. Screw Verizon, and the fiber they rode in on.
Mr Matt

join:2008-01-29
Eustis, FL
·Comcast
·Embarq

I can feel another goverment bail out coming soon.

The ultimate Cherry Picking. The following situation may occur. Give the sale a year or two and Fairpoint most likely will be in financial trouble. Then comes the whining, that Fairpoint will have to discontinue service because of financial issues. The Federal Government will then have to subsidize the company at the tax payers expense.
daslog

join:2002-04-10
Milford, NH

hmmm

So When do we get a Fairpoint Telco Forum!!??
Nafets

join:2003-08-20

Touch my FIOS and die, Fairpoint...

As long as they don't mess with my 'net connection, I'm fine with the deal.

Although I do wonder if routing will still go through Verizon's network or if we'll be routed through whatever Fairpoint has going on (affecting speeds, pings, etc).

shoe1

join:2007-09-28
Colfax, CA

2 edits

Re: Touch my FIOS and die, Fairpoint...

The article said linelands and dsl networks...no where did they mention FOiS networks...if verizon invested in your area I bet there are keeping that area.
erikthebean

join:2007-06-25
Manchester, NH
·Comcast
·MV Communications,..
·Voipgo
·callwithus
·Callcentric

oo boy

from what ive heard in the next couple of weeks the dsl side of verizon will switch to fairpoint's "network" the fios, will be supported for a little longer but eventually go to fairpoint's backbone. So can anyone say in fios land 1.5 mbs max...all i can say is Comcast bought Adelphia at the best time possible

dvd536
as Mr. Pink as they come
Premium
join:2001-04-27
Phoenix, AZ

Guess who. . . . .

Officially has no hope of ever getting fios now!

Wyntre

@paetec.net

Rates and plans?

Can anyone point me to a current rate plan offered by Fairpoint for phone and data services in New England? All their web page says today first official day of service is to stay tuned for more information.

also, there is plenty of talk about phone rates being "locked in" for the next five years (yeah right!) but what about DSL rates for existing customers? Are those locked in too?

I run a small business in New Hampshire and part of that is advising customers on what services to purchase. Kind of tough to do that without some knowledge.
hottboiinnc
ME

join:2003-10-15
Cleveland, OH

Re: Rates and plans?

good luck on getting pricng. They service Ohio and i'm unable to get pricing from their Ohio service site. Seems that you have to call for rough pricing for any of their areas.

Still Looking

@verizon.net

Not a good start...

I'm in Vermont and for what it's worth can offer my own personal Fairpoint DSL anecdote.

I signed up for Verizon DSL last month then got my first bill on 4/1, the day my service became Fairpoint. The bill had none of the promotions they said they'd provide (first month free, no activation fee, no modem fee, and the monthly fee was even higher 33.95 instead of 29.95 for 3.0 ADSL). None of this is Fairpoint's fault of course.

But when I called Fairpoint they said of course they would not honor the deal that the Verizon folks had er... not honored. Since someone asked what the service is now, all they could quote me was $33.95 / month for 3.0 Mb and they would charge $19.95 for activation and $39.95 for the modem.

When I told them they had raised the rates on their first day, they argued that the Verizon rate was an "online promotion" not their actual rate (???) I asked what their online promotion was, and they said they don't have a working website yet...

Pretty clear writing on the wall for me; I'm off to find another ISP.

batterup
I Can Not Tell A Lie.
Premium
join:2003-02-06
Netcong, NJ
clubs:

You asked for it.

Ma Bell is dead any yet the people bitch. That was a brilliant move by Maine meddling in the NSA/Verizon situation.

Now Maine doesn't have Verizon to kick around anymore.
Forums » Verizon Sells ME, NH, VT Networks


Sunday, 08-Nov 12:59:06 Terms of Use | Privacy Policy | Hosting by www.nac.net - DSL,Hosting & Co-lo | feedback | contact
over 10 years online! © 1999-2009 dslreports.com.