Verizon Selling Phone Lines to Frontier

Verizon Communications Inc. (NYSE: VZ) is selling its traditional telephone operations in 14 states, including Indiana, to Frontier Communications (NYSE: FTR). Verizon says it expects to receive $8.6 billion in the deal as it continues to focus on wireless, broadband and global IP operations. The transaction includes Verizon's local wire line operations, Internet service, long distance voice accounts and fiber-to-the premises assets in Indiana.