Fairpoint to be bought for $1.5 billion

Reuters - Consolidated Communications Holdings Inc said on Monday it would buy broadband service provider FairPoint Communications Inc in an all-stock deal valued at $1.5 billion, including debt. Mattoon, Illinois-based Consolidated's acquisition of Charlotte, North Carolina-based FairPoint marks the fifth such deal in the past two months as growing demand for data and video services drives companies to expand their fiber optic networks in new regions.