Verizon Communications said it would sell wireline assets to Frontier Communications for $10.54 billion in cash and sell and lease cell phone towers for around $5 billion to American Tower in a deal that will help it pay off recent wireless spectrum purchases. The transaction is the latest in a series of non-core assets that Verizon has sold in recent months to reduce debt and raise cash for investments. Frontier will nearly double its size by buying Verizon's local wireline operations in California, Florida and Texas, including 3.7 million voice customers, 1.2 million video customers and 2.2 million broadband connections. Boston-based American Tower said Verizon would lease over 11,300 towers and sell 165 towers for $5.06 billion.



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