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Verizon agreed to buy Frontier Communications, the largest pure-play US fiber provider, in an all-cash deal valued at $20 billion ($38.50 a share), adding 2.2 million fiber subscribers and reach to 25 million premises across 31 states and DC.

Verizon's third-quarter 2025 results, the first under new CEO Dan Schulman, showed adjusted EPS of $1.21 but a loss of 7,000 consumer postpaid phones, as Schulman promised to aggressively transform the company's culture and costs.

Verizon closed its $20 billion purchase of Frontier Communications, making it a wholly owned subsidiary and extending Verizon's fiber reach to almost 30 million passings across 31 states and DC.

Verizon agreed to buy more than 80 million miles of Corning optical fiber from 2027 to 2032 to push toward 40-50 million broadband passings and build long-haul fiber between AI data centers.