FairPoint cuts dividend, seeks debt delay

03/15/2009 | InformationWeek · CED Magazine

FairPoint Communications, which has been struggling with technical issues in switching former Verizon Communications customers over to its own wireline network, has suspended its quarterly dividend and is seeking to delay a March debt payment to June, according to reports. FairPoint bought Verizon's network -- with 1.5 million voice and Internet access lines -- in Vermont, New Hampshire and Maine for $2.3 billion last year and has lost some customers over the switching delays.

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InformationWeek · CED Magazine

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