Headquartered in Cincinnati, altafiber—formerly known as Cincinnati Bell—is a top-tier provider of fiber-optic internet, cybersecurity solutions, and voice services for both residential and enterprise customers. With a longstanding presence in Ohio, Kentucky, and Indiana, the company plays a pivotal role in delivering high-speed connectivity to communities and commercial hubs alike.
For customers and business leaders operating in the region, understanding the ownership of altafiber goes beyond curiosity. Corporate ownership can directly affect decisions around service reliability, pricing models, investment in infrastructure, and long-term regional commitments. This leads to one central question:
Is altafiber currently owned by AT&T?
Founded in 1873, Cincinnati Bell began as a local telephone exchange serving the Cincinnati area and quickly grew into a staple of Ohio’s communications landscape. For decades, the company provided core telecom services—voice calling, long-distance, and eventually internet and video—to residential and business customers across the Greater Cincinnati region.
By the late 20th century, Cincinnati Bell had diversified its portfolio, offering a full suite of telecommunications services including:
As the demand for high-speed data and integrated digital solutions surged, Cincinnati Bell responded by aggressively investing in fiber optics. This move positioned it as one of the earlier U.S. providers to pivot toward fiber infrastructure while many rivals still relied heavily on copper lines.
In March 2022, Cincinnati Bell completed its transformation into altafiber. The rebrand wasn’t just cosmetic—it marked a strategic shift reflecting two decades of technological evolution and infrastructure upgrades. The company had already invested over $1 billion in fiber deployment prior to the name change, and the move signaled a commitment to accelerating that rollout.
The new name, altafiber—combining “alta,” meaning “elevated” in Latin, with “fiber”—captures the company’s pivot away from legacy telephony into fiber-first, data-centric connectivity. The brand now embodies a streamlined focus: delivering 100% fiber-based internet, superior network reliability, and scalable digital solutions for both consumers and enterprises.
This rebranding also aligns the company more closely with broader nationwide trends, where legacy telecom operators shed historical branding in favor of names that emphasize speed, innovation, and advanced infrastructure.
AT&T's relationship with altafiber—formerly Cincinnati Bell—goes back decades, but never in the way some assume. AT&T once held a minority stake in Cincinnati Bell, making it a financial participant rather than a strategic controller. This stake was inherited through the old Bell System legacy, in which multiple regional carriers held small equity positions in one another to support infrastructure and interoperability.
AT&T never acquired a majority share of Cincinnati Bell, nor did it hold voting rights that would allow it to influence decision-making or corporate governance. Board representation, executive control, and strategic planning remained firmly with Cincinnati Bell’s independent leadership. No point in the ownership history shows AT&T as a parent company or managing entity.
Some still associate altafiber with AT&T for several reasons. Geographic proximity plays a role—both companies have legacy infrastructure in overlapping sections of Ohio and Kentucky. The historical use of the Bell name in “Cincinnati Bell” draws further parallels with AT&T’s Bell System heritage. Even more, customers may conflate shared fiber infrastructure or colocation points as evidence of ownership, when in fact these are industry-standard interconnection practices.
Another cause of confusion lies in branding. Both AT&T and altafiber deliver high-speed fiber services, market with similar terms like "gigabit internet," and operate in similar regulatory environments. But none of these factors reflect legal or financial connections between the two entities today.
On September 7, 2021, Macquarie Infrastructure Partners V completed its $2.9 billion acquisition of Cincinnati Bell Inc., the parent company of altafiber. This transaction included the assumption of Cincinnati Bell's outstanding debt and marked the end of the company’s status as a publicly traded entity on the New York Stock Exchange.
Macquarie Infrastructure Partners (MIP), part of Macquarie Asset Management, pursued the deal to gain a substantial foothold in the American telecom infrastructure space. The strategic move positioned MIP to capitalize on increasing demand for high-speed fiber connections across the Midwest and beyond. With unanimous approval from Cincinnati Bell's board and its shareholders, the acquisition faced no significant roadblocks from regulators or stakeholders.
Macquarie Infrastructure Partners operates under the larger umbrella of Macquarie Group, a global financial services and investment powerhouse headquartered in Sydney, Australia. MIP specializes in North American infrastructure, managing assets across transportation, utilities, energy, and digital infrastructure.
Its portfolio includes investments in toll roads, power generation, waste management, and data centers. When it comes to telecommunications, MIP backs companies building out the digital infrastructure that supports next-generation services — including fiber optic internet, cloud computing, and smart cities.
Private equity firms like MIP invest in telecom companies for long-term infrastructure plays rather than short-term windfalls. These firms allocate capital to upgrade networks, improve service scalability, and expand reach into underserved or emerging markets.
In the case of altafiber, MIP identified a company with a legacy of regional trust and an underutilized fiber backbone ready for expansion. By injecting capital and operational expertise, MIP aligns long-term asset growth with digital transformation needs.
Under Macquarie’s ownership, altafiber gains access to billions in infrastructure investment capacity. This translates into accelerated network upgrades, new service rollouts, and market expansion beyond its traditional Ohio and Kentucky base.
Rather than stripping away value, MIP’s ownership model builds for scale. The focus has shifted from short-term profitability towards strategic infrastructure that supports long-term competitiveness across the broadband market.
Since Macquarie Infrastructure Partners acquired altafiber (formerly Cincinnati Bell) in 2021, the company has accelerated its investment in fiber-to-the-premises (FTTP) infrastructure. By mid-2023, altafiber confirmed it had passed over 730,000 addresses with fiber, with plans to reach 900,000 by 2024. This positions altafiber as one of the largest regional fiber providers in the Midwest.
These upgrades go beyond basic internet access. altafiber deploys symmetrical gigabit speeds, low-latency connections, and enterprise-grade reliability, supporting both consumer and commercial demands. Residential users see fiber as a pathway to buffer-free streaming and remote work; businesses view it as a foundation for high-capacity operations and cloud-first strategies.
Core service areas still center around Greater Cincinnati and Northern Kentucky, but altafiber has steadily widened its footprint. Investments now reach areas including Dayton, Middletown, and Butler County. In 2022, the company announced a $100 million expansion project moving into Warren County. Eastern Indiana and select remote parts of Ohio are also included in rollout plans.
Corporate customers represent a significant growth vertical. altafiber delivers scalable enterprise fiber solutions tied closely to regional economic development. The company’s business portfolio includes:
Commercial clients range from local startups to school districts and multinational manufacturers, all relying on altafiber to deliver high-uptime, low-latency networks capable of supporting mission-critical services.
Under Macquarie’s leadership, altafiber has embedded digital inclusion into its network strategy. The company has partnered with local governments, school systems, and community organizations to reduce the digital divide.
These efforts contribute not only to connectivity, but to economic mobility and educational access—opening real-world opportunities for residents in historically unserved neighborhoods.
In July 2018, Cincinnati Bell—now doing business as altafiber—finalized its acquisition of Hawaiian Telcom. Valued at approximately $650 million, this strategic merger included both cash and stock components and added around 450,000 new customers to altafiber’s operational scope.
The merger was a double shot of expansion: depth and diversification. Hawaiian Telcom brought with it more than 2,000 route miles of fiber in Hawaii and undersea cable assets connecting the islands to the U.S. mainland, Asia, and other Pacific markets. This allowed altafiber to grow from a regional Midwestern provider into a diversified communications company with a geographically distinct customer base.
Rather than focusing solely on Ohio, Kentucky, and Indiana, altafiber gained access to a completely new market. The deal enabled the company to test and optimize its fiber-based platforms in vastly different market conditions. That diversification helped spread operational risk and opened doors to future cross-regional synergies.
Through the Hawaiian Telcom acquisition, altafiber crossed a threshold—its transition from a Midwest-only provider into a telecommunications player with cross-country infrastructure. The move placed altafiber in a stronger position to bid for federal broadband funding, target national enterprise clients, and scale its fiber technology to different terrains and regulatory environments.
Want to understand how this positions altafiber against other telecom competitors? Consider this: with operations now in the Midwest and across the Pacific, and with international assets via submarine cables, altafiber established a profile that few regional providers can match.
The fiber-optic internet segment in the U.S. has shifted from a niche offering to a national infrastructure race. As of 2023, over 63 million U.S. homes had access to fiber internet, according to data from the Fiber Broadband Association. That translates to a household penetration rate above 43%—up from under 25% just five years earlier.
This market expansion hasn’t been led by any single provider. Instead, regional telecoms, legacy cable companies, and tech-led challengers are carving out fiber footprints in overlapping territories, each trying to secure market share before full saturation.
In today’s fiber-powered marketplace, several names repeat across metro regions:
Unlike telecom giants that pour resources into expansive national footprints, altafiber concentrates its operations in tightly grouped regional clusters. The Cincinnati metropolitan area remains its core stronghold, where it competes with national giants on its own turf.
According to BroadbandNow, altafiber offers fiber coverage to over 75% of households in Hamilton County, giving it one of the highest per-capita fiber availabilities in the Midwest. Dense fiber loops and longstanding municipal partnerships improve service stability in these areas, further increasing customer loyalty and brand presence.
altafiber holds an operational advantage in the commercial segment. Enterprise-grade fiber infrastructure, colocation services through Cincinnati Bell Technology Solutions (CBTS), and a legacy portfolio serving hospitals, financial institutions, and school systems provide predictable recurring revenue.
In contrast, larger competitors often prioritize residential growth to scale subscriber numbers quickly. altafiber continues to balance both segments through consistent capital reinvestment and tailored service offerings, particularly in Tier-2 Midwest cities that larger operators often overlook.
Every major telecom acquisition triggers involvement from multiple regulatory agencies. These approvals don’t happen overnight. They require months of filings, reviews, and public interest evaluations, ensuring that any change in ownership doesn’t harm competitive markets or restrict consumer choice. For companies like altafiber—formerly Cincinnati Bell—this process plays a defining role when transitioning to new ownership.
At the federal level, two agencies hold the most influence: the Federal Communications Commission (FCC) and the U.S. Department of Justice (DOJ) Antitrust Division. The FCC examines whether a merger aligns with "the public interest, convenience, and necessity" per Section 214 of the Communications Act. Meanwhile, the DOJ investigates transactions for antitrust issues, assessing whether a deal would lessen competition or create a monopoly in local or national markets.
But the federal layer is just one side of the equation. Many states have their own public utilities commissions or boards that must also approve the transaction. Their focus often extends to preserving service quality, verifying financial stability of the acquiring entity, and evaluating economic impacts on state residents and workforce.
When Macquarie Infrastructure Partners announced its plan to acquire Cincinnati Bell in March 2020, the deal faced thorough regulatory vetting on both state and federal levels. The $2.9 billion transaction, which included assumption of approximately $1 billion in debt, required sign-offs from numerous jurisdictional bodies.
Key required consents included:
On September 7, 2021, the final regulatory approval came through. The deal officially closed on September 8, completing Macquarie's full acquisition after over a year of due diligence and public scrutiny. Each approval came with public-filing conditions designed to protect consumer access, maintain competitive pricing structures, and preserve local employment levels.
Considering the layered oversight—FCC, DOJ, local commissions, and even foreign investment review—telecom deals like this don’t pass by unnoticed. Regulators use this framework not just to rubber-stamp proposals, but to actively shape outcomes in ways that benefit end users, keep markets dynamic, and ensure infrastructure investments stay on track.
No, altafiber is not owned by AT&T. Despite common assumptions based on shared geography and industry overlap, altafiber operates independently. The confusion often stems from AT&T’s former minority stake in the company, which ended years ago and holds no bearing on today's ownership structure.
AT&T once held a small, non-controlling interest in Cincinnati Bell, the company that rebranded as altafiber in 2022. That stake did not equate to operational control, and it has since been completely dissolved. AT&T plays no role in altafiber’s current strategic direction, governance, or service development.
Today, altafiber is wholly owned by Macquarie Infrastructure Partners (MIP), a division of Macquarie Asset Management. MIP finalized its acquisition of Cincinnati Bell in 2021, positioning altafiber to pursue aggressive investments in fiber-to-the-home infrastructure. Under Macquarie’s leadership, altafiber emphasizes expanding high-speed fiber networks across Ohio, Kentucky, and parts of Indiana—solidifying its role as a regional leader in broadband connectivity.
This change in ownership has had tangible impacts. Fiber coverage has grown. Speeds have increased. Customer access to symmetrical gigabit service continues to improve. And altafiber’s position in the competitive telecom landscape depends entirely on its own capital, operations, and innovation strategy—not on AT&T’s portfolio or resources.
In short, altafiber and AT&T share industry space, but nothing more. altafiber’s present and future lie with Macquarie Infrastructure Partners, a firm focused on long-term infrastructure growth—not with previous legacy investors.
Ownership shapes strategy. In the case of altafiber, moving from its Cincinnati Bell roots to Macquarie Infrastructure Partners has directly influenced the company’s investments in fiber infrastructure, technology innovation, and regional service expansion. Clarity around corporate structure removes guesswork for consumers and businesses alike—especially when former ties to telecom giants like AT&T create confusion. altafiber is not owned by AT&T.
When Macquarie acquired altafiber, its long-term infrastructure investment strategy brought visible changes. Fiber deployment accelerated in Ohio. Enterprise Internet solutions scaled beyond Cincinnati. Residential customers began seeing service upgrades, and businesses benefited from more robust connectivity options. Understanding this ownership helps stakeholders predict the company’s direction with greater accuracy.
Why does this matter? Because the name alone—formerly Cincinnati Bell—tells only half the story. The real impact is seen in market behavior: new fiber routes, expanded enterprise services, and continued integration of assets like Hawaiian Telcom. The result is a telecom provider grounded in regional identity, but fueled by global investment power.
Whether managing a growing enterprise or upgrading home Internet, customers can rely on altafiber’s stability. Its focus remains clear: deliver consistent, high-speed connectivity through cutting-edge fiber infrastructure. Beyond Cincinnati, the company is building out into more Ohio communities, bringing advanced Internet solutions to underserved areas.
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Consider how connectivity affects daily operations or family life. What level of service do you expect? Now compare that with what fiber-backed providers offer. In this competitive broadband environment, altafiber’s evolution—backed by Macquarie’s strategic acquisitions and continued focus on innovation—positions the company as a vital player in Ohio’s telecom future.
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