Company's State-of-the-Art Network to Reach
Over 300,000 Potential Customers in North
Carolina by End of 2023
CHARLOTTE, N.C., June 2, 2022
/PRNewswire/ -- Brightspeed today announced that it will
build a significant portion of its planned fiber optics network in
North Carolina, where it expects
to deliver, by end of 2023, over 300,000 new fiber passings in
portions of more than 30 counties in the first phase of
construction in the state. Brightspeed further plans an additional
500,000 fiber passings in subsequent years of its network
transformation initiative, for a total of up to 800,000
fiber-enabled locations across its North
Carolina footprint.
North Carolina is one of 20
states that will comprise Brightspeed's operating territory,
spanning mainly rural and suburban regions of the country.
Brightspeed plans to invest at least $2
billion in its fiber optics transformation, which is
expected to reach up to 3 million homes and businesses over the
next five years, including in many locations where fiber and
advanced technology have not historically been deployed. The
company will initially be comprised of the incumbent local exchange
carrier (ILEC) assets and associated operations of Lumen
Technologies (NYSE: LUMN), which are the subject of a pending
acquisition by Apollo-managed funds (NYSE: APO). The parties expect
to obtain regulatory approvals in the third quarter of this year,
and to close the transaction in early fourth quarter.
"Brightspeed is based in North
Carolina, so it is especially meaningful to share the
initial fiber build specifics for our home state," said
Tom Maguire, Chief Operating Officer
of Brightspeed. "High-quality broadband has never been more
important, whether for work, education, telemedicine,
entertainment, or simply staying connected. We are thrilled for the
opportunity to bring the capabilities of our fiber network to
customers in so many North
Carolina communities."
Brightspeed plans to bring faster, more reliable Internet and
Wi-Fi initially to over 300,000 residential and business locations
over the next 18 months in markets within the Greenville/New
Bern, Raleigh/Durham, and
Greensboro/High Point/Winston-Salem areas, among others. These new
locations will augment the over 60,000 existing fiber passings that
Brightspeed will assume upon the close of the transaction between
the Apollo funds and Lumen.
Brightspeed's 2022 and 2023 build plans cover portions of the
following counties: Alamance,
Beaufort, Bertie, Camden, Carteret, Chatham, Columbus, Craven, Cumberland, Dare, Duplin,
Edgecombe, Forsyth, Granville, Guilford, Halifax, Harnett, Hertford, Hoke, Lenoir,
Martin, Moore, Nash,
Onslow, Pasquotank, Pender, Perquimans, Pitt, Randolph, Rockingham, Sampson, Vance, and Wilson.
"In addition to our initial build plans, we have been
working to evaluate areas for consideration for North Carolina's GREAT and CAB grants,"
Maguire continued. "We are impressed by the transparency and
effectiveness of the state's grant program and look forward to
participating in a major way to bring even more fiber-based
internet access to those who will benefit most."
"High-speed internet access is essential for people to live,
learn, access health care, and grow their businesses," said
Governor Roy Cooper. "Brightspeed's
fiber network will help us get more North Carolinians connected and
bridge the digital divide."
Brightspeed also recently announced that it has commenced design
and preparations for the first deployment in North Carolina, pioneering its
next-generation, gig-speed FTTP architecture in collaboration with
a roster of blue-chip technology vendors.
Information regarding Brightspeed's other state-specific network
build plans will be forthcoming in the weeks ahead.
For more information about Brightspeed, visit the company's
website, www.brightspeed.com.
About Brightspeed
Headquartered in Charlotte, N.C. and expected to have assets
and associated operations in 20 states, Brightspeed will provide
broadband and telecommunications services through a network
platform capable of serving more than 6 million homes and
businesses. The company aims to bridge the digital divide by
deploying a state-of-the-art fiber network and a customer
experience that makes staying connected simple and seamless. For
more information about Brightspeed, visit the company's website,
www.brightspeed.com.
Media
Erik Carlson
Joele Frank, Wilkinson Brimmer
Katcher
(212) 355-4449
pr@brightspeed.com
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SOURCE Brightspeed