NEW YORK — Verizon Communications will make almost $15 billion from selling part of its wireline business and leasing thousands of wireless towers.
The largest U.S. cellphone carrier is selling its California, Florida and Texas wireline businesses, which serve telephone, TV and Internet customers, to Frontier Communications Corp. for $9.9 billion in cash. Frontier is also taking on $600 million in debt.
Verizon says it wants to concentrate on the East Coast wireline business and will focus on expanding its FiOS broadband and high-speed Internet business in that region.
In 2010, Verizon sold Frontier 4 million phone lines in 14 states for $5.3 billion.
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