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

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

By Associated Press | Updated: 19 April 2013 15:00 IST

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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)

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Further reading: Google, Google Fiber, Internet