A. Ares Capital , who is our largest shareholder, is also pushing us (potentially)to sell. It's not just Jana Partners. They are seeking to change or influence control through a potential sale.
(see https://www.reuters.com/markets/deals/jana-partners-built-stake-frontier-communications-call-company-sale-2023-10-17/)
B. There has been no mention of funding past 2025. Our fiber securitization keeps us funded through then. Even if net revenue in, is slightly greater than out.. CAF and government subsidies can't last forever. Churn dictates without growth, we will fall. We cannot build without funding, and there is no way our revenue can turn around in 2 years to the point that it can sustain our fiber build. (Though selling our assets in 4 dumpster fires will help, it's not enough ( https://www.lightreading.com/finance/frontier-exploring-sale-of-some-non-core-assets-report )) If you work in these 4 states, you are gone. lol.
- A company spokeswoman has responded, saying "We look forward to understanding their views" - while this is intentionally vague, they are beholden to listening to the shareholders.
- Frontier's investment in Dallas is at a nondescript building where things can easily be converted to a fresh coat of paint. Frontier's other building locations have been left in egregious disrepair.
Don't believe me? Just ask on the next listen live about the sale. You will get the canned "We are beholden to our shareholders" sh-t every CEO gives.
If you want to ask a good question, ask him what our plans are after 2025. You'll just get his canned bullsh-t "build fiber, sell fiber" response.
But you might be missing the "sell fiber" part, since "sell our company" is also technically "selling fiber."
Go ahead and downvote this all you like, astroturfing media team. The writing's on the wall for you too.
See you next listen live, Nick. I look forward to hearing you being forced to dodge the question, at the very least, since you can have no discomfort from your multimillion dollar salary, or the fact that you, yourself, have no forced office mandate. Just seeing a moment of discomfort is good enough for me.