Verizon’s acquisition of Starry is expected to pull the once-troubled fixed wireless provider off life support—reviving its mmWave broadband ambitions with the stability, capital, and scale needed to finally bring its rooftop network vision to life.
Verizon Communications has agreed to acquire Starry, the Boston-based fixed wireless broadband provider that serves apartments and businesses from rooftop antennas. The deal, which is expected to close in early 2026, did not require an SEC filing, signaling it’s financially modest but strategically important.
A Bargain from Bankruptcy
Starry’s assets came cheaply after its 2023 Chapter 11 bankruptcy, when it slashed over 500 jobs and shed heavy debt. The company had raised limited capital through its 2022 SPAC merger, collapsed to a penny stock, and restructured with $43 million in debtor-in-possession financing.
According to public filing summaries, Starry’s petition listed approximately $310 million in total debt and about $270 million in assets at the time of filing. One of the top 30 unsecured creditors was Crown Castle Fiber at $244,894.
It reemerged, focusing on five cities—Boston, New York, Los Angeles, Denver, and Washington, D.C.—and had about 100,000 subscribers.
Verizon hasn’t disclosed terms, but analysts believe the purchase price was small given Starry’s bankruptcy value. Verizon said the acquisition will “accelerate fixed wireless expansion” and provide “a powerful and affordable broadband option” for urban residents, according to Joe Russo, Verizon’s EVP of Global Networks & Technology.
Why Starry Matters
Starry specializes in delivering internet to multi-dwelling units (MDUs) and commercial buildings via high-frequency millimeter wave (mmWave) signals from rooftop transmitters—avoiding costly in-building wiring. Its model aligns with Verizon’s goal to double fixed wireless access (FWA) subscribers to 8–9 million by 2028 and reach 90 million households.
“Starry has demonstrated a unique and efficient approach to delivering high-speed internet in complex MDU environments,” Russo said. Verizon will integrate Starry’s hardware with its mmWave spectrum and fiber backhaul to connect urban buildings where fiber installation is often impractical.
Competitive Context
Starry’s rivals include Comcast and Charter, which dominate the MDU broadband market, and Google Fiber’s Webpass, another rooftop wireless service. In the fixed wireless segment, Verizon’s main competitors are T-Mobile and AT&T, both expanding 5G home internet.
Analyst Roger Entner said the move gives Verizon “another arrow in the quiver” for the urban broadband fight, adding that “Starry was on life support,” and the acquisition gives Verizon a proven way to reach apartment dwellers dominated by cable companies.
Strategic Fit
Starry’s rooftop system fills a gap for Verizon’s 5G Home Internet: reaching dense city dwellers who were difficult to serve with standard wireless routers. Verizon can now combine its licensed 28/39 GHz mmWave and fiber backbone with Starry’s unlicensed 60 GHz system.
By leveraging both networks, Verizon gains a cost-efficient way to compete in cities where trenching fiber or negotiating building access has been a challenge. Though not a material transaction on Verizon’s balance sheet, it adds technical and strategic depth to the carrier’s growing broadband ambitions.
