February 26, 2008 Fairpoint buys Verizon landline phone service in Northern New England Play video

(NECN) - As of April 1st, Verizon landline customers in New Hampshire, Maine and Vermont will write their checks to Fairpoint Communications.

The $2.7 billion dollar deal is more than a year in the works. Verizon was eager to dump its telephone and broadband lines in the region, but there was concern from the state and union leaders that North Carolina-based Fairpoint is too small to take on the obligations of the longtime tel-com giant.

The deal approved Monday night by the Public Utilities Commission tries to settle said worries. Verizon will put up more than $360 million to help Fairpoint pay down its debt on the deal and to successfully assume its 1.7 million lines. Fairpoint has promised it will deliver broadband internet service to 95% of its customer base within the next five years, and bring high speed internet access to underserved areas.

Local chapters of the IBEW and CWA mounted a campaign to stop the sale of Verizon and promise the same vigilance as the merger unfolds.

NECN's Lauren Collins has details.