SCHEDULE 13D/A: Ares Management Group Reduces Stake in Frontier Communications Below 5%

Ares Management LLC and its affiliated entities have filed an Amendment No. 5 to Schedule 13D, disclosing a reduction in their beneficial ownership of Frontier Communications Parent, Inc. common stock to 4.9% as of March 19, 2025, following recent share dispositions.

Summary

• Ares Management LLC and its various affiliated funds (ACOF VI Funds, ASOF Funds, ASOF II Funds, and ASSF Funds) have filed an Amendment No. 5 to their Schedule 13D regarding their holdings in Frontier Communications Parent, Inc.
• The filing indicates that as of March 19, 2025, the Reporting Persons collectively ceased to be beneficial owners of more than 5% of Frontier Communications' outstanding Common Stock.
• The total aggregate amount beneficially owned by Ares Management LLC and its affiliates is now 12,206,847 shares, representing 4.9% of the class.
• This percentage is based on 249,701,000 shares of Common Stock outstanding as of February 17, 2025, as reported in Frontier's Form 10-K.
• On March 18, 2025, the Reporting Persons disposed of 1,773,309 shares at a price of $35.7764 per share.
• On March 19, 2025, an additional 1,878,000 shares were disposed of at a price of $35.7707 per share.
• The total number of shares disposed of across these two days was 3,651,309.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of a change in beneficial ownership, specifically a reduction below a reporting threshold. While a reduction by a large investor could be viewed negatively, the filing itself is neutral in tone and simply reports a required change in ownership status, without providing reasons or implications.

Negatives

• A significant institutional investor, Ares Management Group, has reduced its stake in Frontier Communications Parent, Inc. below the 5% threshold, which could be interpreted by some investors as a decrease in confidence or a strategic portfolio rebalancing.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the Issuer's future performance or strategic direction.

Industry Context

This filing primarily concerns a change in a significant investor's stake in Frontier Communications, a telecommunications company. It does not provide broader industry trends or competitive analysis, focusing solely on the ownership disclosure.

Stakeholder Impact

• Shareholders: The reduction in Ares Management Group's stake could lead to speculation among other shareholders regarding the firm's long-term view of Frontier Communications, potentially influencing share price.

Next Steps

• The Reporting Persons undertake to provide, upon request by the staff of the SEC or the Issuer, full information regarding the number of shares sold at each separate price for each transaction.

Key Dates

Keywords

Frontier Communications, Ares Management, SEC Filing, Schedule 13D, Share Ownership, Institutional Investor, Common Stock, Telecommunications, Investment Management