Verizon has found another one. They are trying to sell phone lines in 14 states to Frontier Communications. Frontier is OK with paying $8.6 billion for 4.6 million land lines ($1797 per line). It would take 10 years for my phone bill to pay off $1797. According to the Wall St Journal, the deal is opposed only by the Communications Workers of America and only in the state of West Virginia.
Frontier ought to know that if these land lines were worth anything, Verizon wouldn't be selling them.
Verizon's telephone line spin off in Hawaii caused the Hawaiian buyer to go bankrupt in 2008. Verizon's sell off of rural New England telephone lines to Fairpoint Communications caused Fairpoint to go bankrupt in 2009. Verizon spun off Yellow Pages and they went bankrupt too.
Verizon sees it's future in cell phones and internet. It's dumping the rural phone business. The suckers who buy rural phone lines are doomed. Verizon wasn't making money on rural phone service with all the poles and wires paid for, long ago. The suckers think they can make money on the same business when saddled with a heavy debt they used to buy the business from Verizon. Ain't gonna happen.
In the Fairpoint catastrophe, the stockholders and banks got wiped out, the workers are facing layoffs, and service has deteriorated so badly that everyone is switching to a cell phone.
Wanna bet the same thing happens to Frontier? Dunno why the Frontier suits are falling for this scam, but they are. And the Public Utility Commissions in 14 states are not saying "boo".