Now that's a steal! Google to buy $39 million network for one dollar

 

Google-Antitrust%20Prob-635-1.jpg

Terms of an agreement between Google Inc. and Provo, Utah, show the company will pay $1 for a fiber-optic system that cost $39 million to build. (Also see: Google Fiber gigabit Internet headed to Provo, Utah)

Even as Google takes ownership of the municipal network, Provo will have to pay off loans for its construction for another dozen years.

Provo officials say it's a good deal because the system hasn't been able to pay for itself. They say Google will make upgrades and complete connections to every home.

And Google Fiber will offer basic Internet service at no charge for a $30 hookup fee far less than the current $700 activation fee.

Provo households are paying off the cost of the network with a $5.35 monthly utility fee, and city officials say they'll get something for their money now. (Also see: Google Fiber: 10 things to know about the 1000Mbps Internet service)

For the latest technology news and reviews, like us on Facebook or follow us on Twitter and get the NDTV Gadgets app for Android or iOS.

Tags: Google, Google Fiber, Internet

 


Comments

More From NDTV »

More From Web »

 

Advertisement

© Copyright NDTV Convergence Limited 2014. All rights reserved.
Sign in

Advertisement

Advertisement