Comments Due Aug. 8, Replies Aug. 15 on Frontier Asset Sale, Buyer Foreign Ownership
Comments are due Aug. 8, replies Aug. 15 on Frontier Communications' selling to Northwest Fiber wireline assets in Idaho, Montana, Oregon and Washington state that pass 1.7 million residential and business locations, some 500,000 fiber-to-the-premises capable (see this publication, May…
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30). The companies also seek declaratory ruling to allow foreign investment above the 25 percent benchmark. The cash deal is worth about $1.35 billion, three FCC bureaus noted in a public notice in Friday's Daily Digest on docket 19-188. The PN noted WaveDivision Capital will own 10 percent of Northwest Fiber, with Searchlight owning the rest. Searchlight Capital Partners will elect a majority of Northwest Fiber’s board and is "ultimately controlled" by founding partners: Eric Zinterhofer, a U.S. citizen; Erol Uzumeri, a Canadian citizen; and Oliver Haarmann, a German citizen. WaveDivision Capital's Steve Weed, a U.S. citizen, will be chairman of Northwest and his company "will manage the day-to-day operations," the bureaus reported. Weed founded and was CEO of Wave Broadband.