Frontier Communications Corporation (FTR) 42nd Annual JPMorgan Global Technology, Media and Telecom Conference May 19, 2014 9:40 AM ET
Executives
Maggie Wilderotter - Chairman and Chief Executive Officer
John Jureller - Executive Vice President and Chief Financial Officer
Analysts
Phil Cusick - JPMorgan
Phil Cusick - JPMorgan
My name is Phil Cusick. I cover telecom and cable here at JPMorgan. I'm happy to introduce Maggie Wilderotter and John Jureller. Maggie is the CEO and Chairman of Frontier Communications since 2004. And John joined Frontier just last year and became CFO last February.
I was going to start by talking about the strong first quarter, but I think it makes more sense to start with the deal that was announced last night. Can you just talk, Maggie, about how this impacts Frontier long term, how you think about, one, your sort of relationship with AT&T; and two, your ability to compete long term?
Maggie Wilderotter
Well, wonders never cease in our industry. There's always something going on. I think it makes a lot of sense for AT&T to purchase DirecTV. If you think about AT&T's forays into the content business with U-verse, you look at the recent Comcast-Time Warner announcement, this sort of helps them level the playing field in terms of their content aspirations to be able to get them at rates that would be competitive, so they can compete long term in the marketplace. AT&T has also been very strong in Latin America and in Mexico. And I think this helps them with those forays.
From a competitive perspective, we've been partners with Dish Network for almost 10 years and continue to be partners there. We are, as you know, buying the State of Connecticut from AT&T and we are so happy that we're able to contribute $2 billion to their DirecTV purchase. We think
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