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Frontier Communications (FTR) to acquire 4.8M land lines in 14 states from Verizon (VZ) for...

Frontier Communications (FTR) to acquire 4.8M land lines in 14 states from Verizon (VZ) for $8.6B in stock. Verizon will spin off some local exchanges into a new company (SpinCo), which will then be merged with Frontier. The deal will allow Verizon to focus on wireless, broadband and internet. Premarket VZ +1.8%. FTR flat. (PR)
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