Frontier Communications is being urged to begin an immediate review of its business and consider a possible sale, according to a letter from investment firm Jana Partners. The firm, which owns a stake in Frontier, warned that the cable company’s shares would continue to lag otherwise. “We wish for the Board to pursue whatever option generates the greatest risk-adjusted return for shareholders,” Barry Rosenstein and Scott Ostfeld, the firm’s two managing partners said in the letter. “We believe that a bona fide evaluation of strategic alternatives would lead the Board to conclude that a sale transaction offers the best risk-adjusted outcome for shareholders.”
Rep. Vern Buchanan (R-Fla.) has written FCC Chairman Ajit Pai to stick up for Gray Television’s WWSB Sarasota, Fla., in a retrans fight with Frontier Cable. Citing a failure to reach a retrans agreement with Frontier, WWSB used some in-house news reporting last week to relay that it had been pulled from the cable system Friday (Dec. 18) after WWSB offered to keep the signal on at current terms while they continued to negotiate.
