Google transfers equity in the fiber optic department.

Google said that its fiber internet business division, GFiber, will merge with Astound Broadband to form an independent operator. Google will retain a minority shareholder position. In a press release, Google stated that the new company will be majority owned by investment firm Stonepeak and led by the existing management team of GFiber, "utilizing their expertise in high-speed fiber optic innovation to manage the combined network coverage map."