Exhibit 99.1
news release
Contact:
David Whitehouse
203.614.5708
For Immediate Release
Frontier Communications Scheduled to Participate in 37th Annual J.P. Morgan
Global Technology Media and Telecom Conference
Stamford, Conn. - May 14, 2009 - Frontier Communications Corporation (NYSE:FTR)
announced today that its Chairman and CEO, Maggie Wilderotter, and Executive
Vice President and Chief Financial Officer, Don Shassian, are scheduled to
participate in the 37th Annual J.P. Morgan Global Technology, Media and Telecom
Conference in Boston, Massachusetts, on Monday, May 18, 2009 at 11:20 a.m.
eastern.
The direct link to the webcast of the presentation is:
http://metameetings.com/webcasts/jpmorgan/technology09/directlink?ticker=FTR
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Frontier Communications provides voice, video and Internet services in 24
states. It is included in the S&P 500 Index. On May 13, 2009, Frontier
Communications announced an agreement to acquire approximately 4.8 million
access lines in 14 states from Verizon Communications. Upon completion of the
transaction, Frontier will be the nation's largest pure rural communications
company.
For more information about Frontier Communications, please visit
www.frontier.com or www.frontier.com/ir.
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Forward-Looking Language
This press release contains forward-looking statements that are made pursuant to
the safe harbor provisions of The Private Securities Litigation Reform Act of
1995. These statements speak only as of the date of this press release and are
made on the basis of management's views and assumptions regarding future events
and business performance. Words such as "believe," "anticipate," "expect" and
similar expressions are intended to identify forward-looking statements.
Forward-looking statements (including oral representations) involve risks and
uncertainties that may cause actual results to differ materially from any future
results, performance or achievements expressed or implied by such statements.
These risks and uncertainties are based on a number of factors, including but
not limited to: reductions in the number of our access lines and high-speed
internet subscribers; the effects of competition from cable, wireless and other
wireline carriers (through voice over internet protocol (VOIP) or otherwise);
reductions in switched access revenues as a result of regulation, competition
and/or technology substitutions; the effects of greater than anticipated
competition requiring new pricing, marketing strategies or new product offerings
and the risk that we will not respond on a timely or profitable basis; the
effects of changes in both general and local economic conditions on the markets
we serve, which can impact demand for our products and services, customer
purchasing decisions, collectibility of revenue and required levels of capital
expenditures related to new construction of residences and businesses; our
ability to effectively manage service quality; our ability to successfully
introduce new product offerings, including our ability to offer bundled service
packages on terms that are both profitable to us and attractive to our
customers; our ability to sell enhanced and data services in order to offset
ongoing declines in revenue from local services, switched access services and
subsidies; changes in accounting policies or practices adopted voluntarily or as
required by generally accepted accounting principles or regulators; the effects
of ongoing changes in the regulation of the communications industry as a result
of federal and state legislation and regulation, including potential changes in
state rate of return limitations on our earnings, access charges and subsidy
payments, and regulatory network upgrade and reliability requirements; our
ability to effectively manage our operations, operating expenses and capital
expenditures, to pay dividends and to reduce or refinance our debt; adverse
changes in the credit markets and/or in the ratings given to our debt securities
by nationally accredited ratings organizations, which could limit or restrict
the availability and/or increase the cost of financing; the effects of
bankruptcies and home foreclosures, which could result in increased bad debts;
the effects of technological changes and competition on our capital expenditures
and product and service offerings, including the lack of assurance that our
ongoing network improvements will be sufficient to meet or exceed the
capabilities and quality of competing networks; the effects of increased
medical, retiree and pension expenses and related funding requirements; changes
in income tax rates, tax laws, regulations or rulings, and/or federal or state
tax assessments; further declines in the value of our pension plan assets, which
could require us to make contributions to the pension plan beginning in 2010, at
the earliest; the effects of state regulatory cash management policies on our
ability to transfer cash among our subsidiaries and to the parent company; our
ability to successfully renegotiate union contracts expiring in 2009 and
thereafter; our ability to pay a $1.00 per common share dividend annually, which
may be affected by our cash flow from operations, amount of capital
expenditures, debt service requirements, cash paid for income taxes (which will
increase in 2009) and our liquidity; the effects of significantly increased cash
taxes in 2009 and thereafter; the effects of any unfavorable outcome with
respect to any of our current or future legal, governmental, or regulatory
proceedings, audits or disputes; the possible impact of adverse changes in
political or other external factors over which we have no control; and the
effects of hurricanes, ice storms or other severe weather. These and other
uncertainties related to our business are described in greater detail in our
filings with the Securities and Exchange Commission (SEC), including our reports
on Forms 10-K and 10-Q. There also can be no assurance that the proposed
transaction will in fact be consummated. We undertake no obligation to publicly
update or revise any forward-looking statement or to make any other
forward-looking statements, whether as a result of new information, future
events or otherwise unless required to do so by securities laws.
Additional Information and Where to Find it
This press release is not a substitute for the prospectus/proxy statement
Frontier will file with the SEC. We urge investors to read the prospectus/proxy
statement, which will contain important information, including detailed risk
factors, when it becomes available. The prospectus/proxy statement and other
documents which will be filed by Frontier with the SEC will be available free of
charge at the SEC's website, www.sec.gov, or by directing a request when such a
filing is made to Frontier, 3 High Ridge Park, Stamford, CT 06905-1390,
Attention: Investor Relations.
This communication shall not constitute an offer to sell or the solicitation of
an offer to buy securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such jurisdiction.
Frontier and certain of its directors, executive officers and other members of
management and employees may, under SEC rules, be deemed to be "participants" in
the solicitation of proxies in connection with the proposed transactions.
Information about the directors and executive officers of Frontier is set forth
in the proxy statement for Frontier's 2009 annual meeting of stockholders filed
with the SEC on April 6, 2009.
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