Can you name a single telco that had more access line in the third quarter of 2008 than it had at the end of 2007? I can: FairPoint Communications, which had 1.8 million lines at the end of 3Q, versus 305,777 at the end of last year. Of course, FairPoint came by its line increase through the acquisition of former Verizon Communications lines in New England.
Now, the jump in scale has the company looking for new management to help it manage its new size and challenges. The Wall Street Journal reports that FairPoint is looking for a successor to company co-founder and CEO Gene Johnson.
The transition from a small telco that still has its co-founder in charge to a larger independent so far has been a little bumpy, as FairPoint has delayed its cutover from Verizon back office systems until January. The company also has about $2.2 billion in debt, some of it related to the acquisition.
- The Wall Street Journal has this report
FairPoint hired a Verizon vet as its new CFO
FairPoint earlier delayed the cutover from September to January