Ownership

The prosecco corks were no doubt popping at Telecom Italia’s (TIM) headquarters in Rome after the operator’s relieved CEO was able to announce the completion of a long-gestated plan to sell off its fixed-line grid to the Optics BidCo consortium controlled by investment firm KKR. The sale of NetCo for up to €22 billion (U.S. $23.6 billion) also allows TIM to reduce its net financial debt by about $13.8 billion, from an adjusted net financial debt of €26.6 billion at March 31, 2024.

The Supreme Court's decision limiting executive branch power also further hobbled U.S.

LiveOak Fiber, which operates fiber broadband networks in Georgia and Florida, has secured $250 million from J.P. Morgan to fund its fiber network expansion in the southeastern United States. The quarter billion investment will be used to expand LiveOak’s 100% fiber broadband network in Florida, Georgia, and beyond. Founded in 2022 and headquartered in Brunswick, Georgia, LiveOak Fiber has grown quickly.

People expect unfettered and affordable access to communication services—and a media system that provides accurate news and information. A significant and bipartisan majority of Americans want to make sure their communications and internet activity are private, and do not want to see discrimination or intentionally false information online. Free Press Action's policy platform is a guide for candidates and policymakers seeking to uphold their constituents’ rights to connect and communicate and is supported by our members across the country, including in every state and territory.

Every other year, the Federal Communications Commission asks for input on the state of competition in the domestic communications market, to help inform a report to Congress.

In a deal between two providers focused on multifamily broadband, Smartaira has acquired Florida-based Lux Speed Inc. Smartaira provides multi-gigabit, symmetrical service via both fiber internet and managed Wi-Fi. It markets to homeowner-association, condo-association and multi-tenant rental properties in 26 states. The company said that the acquisition is its fourth since 2021 and that it will strengthen its operations in the southeast. 

Private capital is opening fiber availability outside of traditional telecom models, with the Gigapower joint venture between AT&T and infrastructure investor Blackrock a prime example. Gigapower is focusing on an open access model that will initially pass 1.5 million homes nationwide and enable the network to be used and shared by multiple fiber-to-the-home service providers.

The Federal Trade Commission is investigating whether Microsoft structured one of its latest deals with an artificial-intelligence startup to avoid a government antitrust review of the transaction. Microsoft in March hired Inflection AI’s co-founder and almost all of its employees and agreed to pay the startup around $650 million as part of a licensing fee to resell its technology.

Two incumbent local exchange carriers (ILECs) in Virginia—Amelia Telephone Corporation and New Castle Telephone Company—will be the property of RiverStreet Management Services LLC under an agreement signed on May 31 with TDS Telecom, current owner of the ILECs. The deal is based on a stock purchase agreement with RiverStreet.