Frontier Communications Files For Chapter 11 - Tampa, FL - Frontier Communications Corp.announced Tuesday that it has filed for Chapter 11 bankruptcy.
Yesterday evening, internet service provider Frontier Communications announced it was filing for Chapter 11 bankruptcy, a move in which it said it expects to “reduce the Company’s debt by more than $10 billion and provide significant financial flexibility to support continued investment in its long-term growth.”
Crushing debt and the uncertain effects of the COVID-19 pandemic have led Frontier Communications Corp. to file for Chapter 11 bankruptcy, and to enter into a Restructuring Support Agreement (RSA) with bondholders.
ST PETERSBURG, Fla.--(BUSINESS WIRE)--Frontier Communications is the official TV and internet provider of the Firestone Grand Prix of St. Petersburg, to be held March 13-15. This will be Frontier’s third year partnering with the annual motorsports event. “We are thrilled to partner with the Firestone Grand Prix for a third year,” said Melanie Williams, Frontier’s Senior Vice President of Operations, South Region. “The Frontier team is delighted to be a part of an exciting event in our Tampa Bay
NORWALK, Conn.--(BUSINESS WIRE)--Frontier Communications Corporation (NASDAQ: FTR) today announced that Mike Shippey has been appointed Senior Vice President, Wholesale Services, effective immediately. Mr. Shippey will lead Frontier’s Carrier and Wholesale business, including oversight for sales and marketing, innovation in new solutions and the customer experience. Previously, he served as President of Wholesale Services at Windstream Holdings. Mr. Shippey will be based in Dallas, and reports
Telecom service provider Frontier Communications may be pursuing bankruptcy and a company-wide restructure in order to continue to services customers without interruption, according to a new Bloomberg report.
Both telecom companies have problems, but one clearly makes more sense for investors.
NORWALK, Conn.--(BUSINESS WIRE)-- #FrontierCommunications--Frontier Communications Corporation (NASDAQ: FTR) has launched two new tools to combat illegal robocalls and protect its customers from caller ID spoofing. With STIR/SHAKEN and enhanced caller ID, Frontier has deployed leading technology solutions across its network to flag suspicious call activity and digitally certify phone calls in order to identify fraudsters posing as legitimate callers. “Frontier is continually evolving strategies to protect our customers
NORWALK, Conn.--(BUSINESS WIRE)--Frontier Communications Corporation (NASDAQ: FTR) announced today that the Company’s Board of Directors has unanimously appointed Bernard L. “Bernie” Han as President and Chief Executive Officer and a member of the Board, effective immediately. Mr. Han succeeds Daniel McCarthy, who is stepping down as President and Chief Executive Officer and from his position on the Board. Mr. Han brings more than 30 years of experience and significant operational and financial
Both companies rely on their fiber assets to offset the decline of their legacy businesses, but one of them is much riskier.
Frontier Communications posted a yet another disappointing quarter. Its revenues declined by 6.1% year-on-year, its subscriber losses continued and its churn ra
Frontier Communications' (FTR) third-quarter net loss includes a goodwill impairment of $276 million and a loss of $30 million on anticipated sale of operations in four Northwest states.
NORWALK, Conn.--(BUSINESS WIRE)--Frontier Communications Corporation (NASDAQ:FTR) today reported financial results for the third quarter ended September 30, 2019. “Third quarter results reflect our ongoing commitment to investing in our assets that have the strongest potential for future growth, while actively managing the parts of the business that are experiencing secular decline,” said Dan McCarthy, President and CEO. “Third quarter Adjusted EBITDA of $804 million reflects a sequential decli
Frontier’s sales came in at $2.07 during the second quarter, but the company reduced its 2019 Ebitda forecast to a range of $3.35 billion to $3.42 billion.
Frontier Communications (FTR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Which struggling telecom is the best bet for a turnaround?
Frontier Communications announced a contest saying it will pay $1,000 for someone to use a flip phone in place of a smartphone for one week.
The sale proceeds are likely to be utilized to pay off Frontier Communications' (FTR) financial obligations, while strengthening its liquidity position.
Here's how the telecom may significantly reduce its debt.
Frontier Communications Corp. shares soared 18% Wednesday, after the company said it is selling its operations and associated assets in Washington, Oregon, Idaho, and Montana to WaveDivision Capital LLC and Searchlight Capital Partners LLC for $1.352 billion in cash. The company, a provider of video and high-speed internet services to rural and urban customers in 29 states, serves more than 350,000 residential and commercial customers in those states, which account for $619 million revenue and $46 million in net income for the 12 months to March 31. The deal is expected to close within a year. The sale "reduces Frontier's debt and strengthens liquidity," said Chief Executive Dan McCarthy. WaveDivision and Searchlight have created a new company to operate the business once the deal closes. Shares have fallen 74% in the last 12 months, while the S&P 500 has gained about 4%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.