FairPoint was founded as MJD Communications Inc. in 1991, and was established as an incumbent local exchange carrier (ILEC) which gave it certain rights and obligations regarding providing service to rural areas.

In that year, Verizon Communications announced plans to sell its landline operations in Maine, New Hampshire, and Vermont to FairPoint for $2.7 billion.

After extensive federal and state regulatory review and approval, the purchase became effective March 31, 2008, for a price of $2.4 billion.

State regulators sought a lower figure out of concerns that excess debt would hamper service and expansion.

[5] On May 5, 2009, FairPoint indicated in its 2009 first quarter report that it was "considering engaging a financial advisor to evaluate its current capital structure and to explore options with respect to a potential restructuring."

[15] In December 2016 FairPoint was purchased by Consolidated Communications for $1.5 billion including assumption of debt.