Federal and state grants are enabling smaller ISPs and electric coops to build out fiber networks to unserved and underserved areas. But once the government subsidies are gone, will these networks be sustainable? Fiber providers that have focused on growth at the expense of profitability may find themselves looking for partners with more financial resources, and many fiber industry executives expect a wave of consolidation. Private equity firms have financed a large number of fiber networks in recent years, and these investors will be looking for their exits at some point. What will consolidation mean for investors, contractors, employees, and customers?
