Verizon Communications Inc. ((NYSE, NASDAQ:VZ) has entered into a new commercial fiber agreement with Eaton Fiber LLC, an affiliate of Tillman Global Holdings, to accelerate Verizon's broadband and mobility convergence strategy and strengthen its position in premium connectivity services.
The partnership will extend Verizon's high-capacity broadband coverage beyond its existing service areas and those of Frontier, which Verizon plans to acquire. The new buildout will bring ultra-fast, fiber-based internet to homes and businesses in markets that currently lack access to Verizon's Fios network.
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Eaton Fiber will finance, construct, and maintain the new network, while Verizon will manage marketing, sales, and customer support.
Verizon has exclusive residential retail rights to the network during and after construction for a defined period.
Verizon stock is down 3% year-to-date. The shares slipped over 4% on October 6 after the company announced a leadership change, naming Dan Schulman, former PayPal Holdings, Inc. (NASDAQ:PYPL) CEO, as its new chief, effective immediately. Schulman succeeds Hans Vestberg, who will remain with Verizon as a special advisor through October 2026.
Verizon said Schulman will guide the company through its integration with Frontier Communications, expected to close in early 2026, and ensure a smooth leadership transition.
Mark Bertolini was appointed chairman of the board. Verizon also reaffirmed its full-year 2025 outlook, maintaining a 2% to 2.8% wireless service revenue growth and adjusted EPS guidance of $4.64 to $4.73.
Verizon plans to acquire Starry, a next-generation fixed wireless internet provider, to strengthen its high-speed broadband footprint in urban areas and multi-dwelling units (MDUs).
By integrating Starry's millimeter wave network, which already serves about 100,000 customers across major U.S. cities, including Boston, New York, Los Angeles, Denver, and Washington, D.C., Verizon aims to accelerate its goal of reaching 90 million households and up to 9 million fixed wireless subscribers by 2028.
The acquisition, pending FCC approval, is expected to close in early 2026.
Price Action: VZ shares were trading higher by 0.03% to $38.83 premarket at last check on Monday.
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