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W.Va. regulators OK release of $8.21 million in funds for Frontier broadband expansion
Reported by: Associated Press
Friday, June 6, 2014 9:36 AM EDT
West Virginia regulators have approved the release of $8.21 million from an account Frontier Communications established in 2010 to expand broadband service.
As a condition of Frontier's acquisition of Verizon properties in West Virginia, the company placed $48 million in an escrow account for broadband expansion.
With approval from the West Virginia Public Service Commission, the company has drawn down nearly $45 million of those funds.
Officials say that through 2013, Frontier has provided broadband access to 176,000 additional households in the former Verizon properties, increasing broadband access there to nearly 90 percent.