FCC approves sale of Lumen assets to Brightspeed
The Federal Communications Commission (FCC) has approved the sale of Lumen Technologies’ incumbent local exchange carrier (ILEC) business in 20 states to funds managed by Apollo, dubbed Brightspeed.
“This transaction will benefit all of these customers, both in Lumen’s remaining 16-state footprint and in the 20 states moving to Brightspeed,” said Melissa Mann, Lumen vice president of public policy and government affairs.
“The FCC’s approval is great news that will bring faster broadband speeds to customers across both companies.”
The US$7.5 billion deal was initially announced in August 2021. Lumen will retain its ILEC businesses in an additional 16 states as well as its national fibre routes, associated networks and international routes.
Apollo, meanwhile, unveiled its Brightspeed brand in November and revealed plans to pass one million homes with its fibre rollout by the end of 2023.
The service area will include over six million homes and businesses.
“The FCC’s approval paves the way for Brightspeed to help close the digital divide in communities across the country that are most in need of high-quality broadband,” said Tom Dailey, Brightspeed vice president of public policy and government affairs.
“This is a significant step in our journey to begin serving customers as Brightspeed.
“We appreciate the efforts of all the regulators and our Lumen counterparts who worked diligently with us over this past year to achieve this milestone.
“We look forward to building our fibre network and participating in programs that support affordability for our new customers.”