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Stock Market & Financial Investment News

News Breaks
November 28, 2012
16:33 EDTFRPFairPoint agrees to sell its Idaho operations to Blackfoot for $30M
FairPoint Communications announced that it has entered into an agreement to sell the capital stock of its Idaho-based operations to Blackfoot Telecommunications Group of Missoula, Montana, for $30M in cash. FairPoint's Idaho properties serve more than 5,000 residential and business customers in eastern Idaho. On an annual basis, the properties contribute approximately $8M in revenue, approximately $5M in EBITDA, with capital expenditures of approximately $1M.
News For FRP From The Last 14 Days
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August 18, 2015
16:46 EDTFRPFairPoint accepts $13.3M in CAF funding to expand broadband service in Maine
FairPoint Communications announced it has accepted $13.3M in annual support from the Federal Communications Commission's Phase II of the Connect America Fund for the state of Maine. By accepting these funds, the Company is committing to construct and operate network infrastructure and offer broadband service speeds of at least 10 Mbps download and 1 Mbps upload to approximately 35,500 locations in Maine. The support program and the FairPoint commitment run over six years.
16:43 EDTFRPFairPoint accepts $4.4M to expand broadband service in New Hampshire
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16:40 EDTFRPFairPoint settles with Vermont Department of Public Service
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16:29 EDTFRPFairPoint backs FY15 Unlevered Free Cash Flow guidance of $115M-$125M
For fiscal 2015, FairPoint expects that it will no longer be eligible to receive its current high cost voice support of $39.3M, subject to certain transition rules. The net impact of no longer receiving this revenue while accepting $37.4M in CAF II funding as well as $7.4M in transitional support will be offset by incremental spending associated with CAF Phase II in 2015. As a result, the company is maintaining its guidance for Unlevered Free Cash Flow of $115M-$125M for the year, adjusted for Estimated Avoided Costs in the first quarter, and, despite a higher capital plan following acceptance of CAF II funding, continues to expect its annual capital expenditures to be less than $120M in 2015. Unlevered Free Cash Flow refers to Adjusted EBITDA minus capital expenditures, pension contributions and cash payments for other post-employment benefits.
16:28 EDTFRPFairPoint accepts $37.4M in annual support from FCC
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