It's official - FairPoint has filed for bankruptcy protection. Here's the spin they're trying to put on it. Bottom line: Worse service, higher rates.
FOR IMMEDIATE RELEASE
Reaches Agreement with Bank Lenders –
Voluntary Chapter 11 Proceeding
Chapter 11 Filing Will Not Impact the Company’s Operations or
I've written a fair amount about how bad the FairPoint deal would be was, and is. But I'll hand it to the Concord Monitor, who not only were able to attend the tri-state grilling session, but also noticed a small detail that's going to blow up quickly.
FairPoint was able to convince state regulators in Maine, New Hampshire, and Vermont that broadband expansion was possible quickly, and that FairPoint would do it.