Frontier Communications stock drops 5% after company says it will not renew for another year

Frontier Communications Inc. said Thursday that it would not renew its contract with the U.S. government to provide the wireless network for the National Security Agency.

The company said it will use its existing spectrum to provide services to U.N. employees and the Department of Homeland Security.

“We will continue to work closely with the Department to ensure the company can continue providing service and ensuring the government has the capacity it needs to meet the needs of its mission,” Frontier said in a statement.

Frontier said it would use its spectrum for two-way communication and the National Geospatial-Intelligence Agency’s satellites.

The satellite network, which will operate for at least the next four years, will be operated by U.K.-based provider BT.

Frontier is one of several large U.B.C. telecommunications companies to file for bankruptcy protection in recent years.

In April, Frontier’s parent company, U.C.-B.

Sc., announced it was seeking bankruptcy protection.

The Federal Communications Commission said last year that the U-B.

Cs. had been selling its spectrum at record prices and that the company had been losing money.

Frontier Communications was bought by BT in 2014 for $2.9 billion.

The merger of Frontier and BT was a big deal for the U,B. C. The U. of C. received $2 billion in funding from U.D.C., which is one-quarter owned by the UB.

A., the UBC and the B.C.’s other two public universities.

The $2-billion is expected to pay for the cost of expanding and expanding its satellite network and building new facilities, according to the agency.

The FCC has said it plans to ask the U of C., B.D., UBC, and B.S.’s Board of Governors to approve a plan to pay the $2 million in dividends for Frontier, the agency said.

Frontier, which has a market value of $20 billion, is one part of the U.,B. and UBC.


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