The following information was in the news on 6/20 and discussed at our Membership meeting:
Frontier Communications Corp. has transferred ownership of an office building in downtown Tampa to its pension fund.
The pension fund paid $29.3 million for the 298,465-square-foot office building at 610 N. Morgan St. in a deal that closed Sept. 14, according to Hillsborough County property records.
A spokesman for the company said Frontier is the single tenant in the building on a long-term lease with multiple renewal options.
"No operational changes, no change in population," Bob Elek, a Frontier spokesman, wrote in an email. "[It's] business as usual."
Frontier entered the Tampa Bay market in 2016, when it bought Verizon's wireline operations in Florida, California and Texas.
The telecommunications company was reportedly looking to sell its Florida operation earlier this year. A sale never came to fruition, Bloomberg reports, because none of the offers were high enough.
I forwarded this information to CWA District 1 Vice President Dennis Trainor who sent it to CWA in Washington DC for analysis. We were directed to ask specific questions and request certain documents related to the pension fund and analysis of the transaction. I will be working with CWA Staff Representative Tonya Moore and the Executive Board to get this information. I will share any updates as we receive them at the local.