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GFiber and Astound to Combine
Investment firm Stonepeak will be the majority owner, with Alphabet retaining a ‘significant minority’ stake.
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Investment firm Stonepeak will be the majority owner, with Alphabet retaining a ‘significant minority’ stake.
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The combined company would have about 36 million broadband subs.
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Denials and hearing referrals would have to be voted on by commissioners.
Fiber
Acquisition lands AT&T with an additional 1 million fiber subscribers and 4 million fiber locations in 8 states
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The deal is now expected to close on Jan. 20, and diversity policies issue resolved.
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A proposed approval would require the company to deploy to all locations served by 88 rural wire centers.
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Separately, former Breezeline president Frank van der Post was named CEO of WOW! after private equity firms closed on the acquisition.
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Digital Bridge and Crestview Partner took the cable operator private in a $1.5 billion deal.
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A CPUC judge set an oral argument date of Jan. 12, 2026.
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An administrative judge at the CPUC recommended approval, but only with extra DEI requirements.
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The companies argued they don't compete with each other and have been buffeted by subscriber losses.
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Coalition warns $34.5B deal would create ‘unchecked gatekeeper power’ and labor harms
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Supporters say the deal could expand broadband investment, onshore customer service jobs, and improve employee wages.
Expert Opinion
The merger should be approved as it would benefit consumers through lower prices and infrastructure upgrades without creating monopoly concerns.
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The carrier is looking to sell corporate bonds to help fund the acquisition.
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Verizon told the FCC it would roll back diversity initiatives to gain approval to acquire Frontier.