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W.Va. regs OKs release of Frontier broadband funds

June 6, 2014
Associated Press

CHARLESTON, W.Va. (AP) — West Virginia regulators have approved the release of $8.21 million from an account Frontier Communications established in 2010 to expand broadband service.

The company said Friday that the recently released funds reimburse Frontier for broadband-related investments the company made through 2013.

As a condition of Frontier's acquisition of Verizon properties in West Virginia, the company placed $48 million in an escrow account for broadband expansion.

With approval from the West Virginia Public Service Commission, the company has drawn down nearly $45 million of those funds.

Officials say that through 2013, Frontier has provided broadband access to 176,000 additional households in the former Verizon properties, increasing broadband access there to nearly 90 percent.

 
 

 

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