Brightspeed says it plans to deploy fiber to the home (FTTH) past up to 40,000 premises by the end of 2023 during the first phase of its FTTH initiative in Pennsylvania. The company expects to pass another 150,000 or more in subsequent years. The deployments will focus on markets within Cumberland, Lancaster, and York counties.
Pennsylvania is among the 20 states that will compose Brightspeed's operating territory when the company is finally formed. Brightspeed will mainly consist of the incumbent local exchange carrier (ILEC) assets and associated operations of Lumen Technologies (NYSE: LUMN) that are the subject of a pending acquisition by Apollo-managed funds (NYSE: APO; see "Lumen to sell CenturyLink ILECs in 20 states to Apollo Funds" and “Former Lumen ILEC operations rebrand as Brightspeed, reveal FTTH ambitions”). Lumen and Apollo expect to obtain final FCC approval of the deal in the third quarter of this year and close the transaction in early fourth quarter.
The fact that the deal hasn’t closed hasn’t prevented the announcement of FTTH deployment plans; company management says they will spend more than $2 billion to bring FTTH to up to 3 million homes and businesses over the next five years (see, for example, "Brightspeed sets FTTH target for 2023" and "Brightspeed unveils Alabama fiber network plan for 120,000 fiber-enabled locations").
"We believe that broadband is a thread that connects us all together," said Chris Creager, chief administration officer of Brightspeed. "Our common experiences over the last couple of years have further magnified the importance of a reliable internet connection to empower people and businesses to participate and thrive in the digital economy, healthcare infrastructure, and education system."
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