Verizon: FCC Approval in Connection With FairPoint Transaction Is Clear Indication of Benefits for Consumers and Businesses in Northern New England

WASHINGTON - The Federal Communications Commission (FCC) today issued an order approving the assignment of authorizations and licenses associated with the proposed acquisition by FairPoint of Verizon's wireline operations in Maine, Vermont and New Hampshire.

In January 2007, Verizon and FairPoint announced definitive agreements that will result in Verizon establishing a separate entity for its local exchange and related business assets in Maine, New Hampshire and Vermont, and then spinning off that new entity to Verizon's stockholders and merging it with and into FairPoint.  The transaction requires approval by the three states' regulatory agencies.

The following response should be attributed to Susanne A. Guyer, Verizon senior vice president, federal regulatory affairs.

"The Federal Communications Commission did the right thing in approving the license transfers between Verizon and FairPoint.  With its broad industrywide view, the commission is in a position to see the clear benefits this transaction holds for consumers and businesses in the three-state region. 

"The FCC's action today is another positive step in obtaining all necessary approvals for the transaction to proceed across the three-state region."