Google Fiber will be sold to private equity firm and merge with cable company
Summary
Ars Technica reports that Google Fiber (GFiber) will be sold to private equity firm Stonepeak and merged with Astound Broadband to create a larger independent ISP. Alphabet will retain a minority stake, and regulatory approvals are required before the close expected in Q4. The deal combines GFiber’s and Astound’s footprints to roughly 7.1 million locations across multiple states, with leadership continuing from GFiber’s team.