FairPoint Communications, a top telecommunications provider, is apparently looking to end off 2012 on a good note by donating to a community not-for-profit. The twist is that the company is leaving it up to the Internet to pick the recipient of the donation by way of a Facebook (News - Alert) vote.
Those who wish to lend their support to one of the selected not-for-profits can do so now on the company's Facebook page.
Eligible not-for-profits include any 501(c)3 organization located in communities across the 18 states that FairPoint serves. Voting began on December 17 and ends in the new year on January 13, with the winner of $2,013 to be announced the following day, January 14.
"Community nonprofits make the places where we work and live much stronger and vibrant," said Barbara Dondiego, senior vice president and chief marketing officer for FairPoint, in a statement. "In celebration of our customers and our communities during this holiday season, FairPoint is honored to recognize the good deeds of these important community organizations."
Also, FairPoint recently made a large voluntary payment of $10 million to its term loan. With this payment, the company has made a total of $43 million in voluntary and scheduled payments on its term loan for the year. As such, the company's debt is down to $957 million from the $1 billion it began with in January 2012.
This most recent payment was made up of cash on hand.
In November, the telecommunications provider entered into an agreement to sell the capital stock of its Idaho-based operations to Blackfoot Telecommunications Group of Missoula, Montana, for $30 million in cash. The transaction is expected to close in early 2013, subject of course to state and federal regulatory approvals. Apparently, 11 FairPoint employees will be joining the Blackfoot organization after the transaction is approved.
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Edited by Brooke Neuman