Report: Verizon to hike Fios termination fee

From CNET News.com: Verizon Communications is reportedly jacking up its early termination fee for its Fios TV service.

The company plans to double the fee to $360 from the $179 it currently charges customers for canceling their service early, according to reports. The new fee would apply to new customers who sign up for service on or after January 17. And it would only apply when customers cancel service before their two-year service contract ends.

News of the fee hike was first reported by the blog DSL Reports.The Philadelphia Inquirer confirmed the change with documents it obtained from the company. A Verizon spokesman declined to comment for CNET's story.

"We don't have anything to announce on this front right now," a spokeswoman said in an e-mail.

The Inquirer reported that the new $360 Verizon fee will be prorated, decreasing over the life of the 24-month contract. This means that subscribers canceling their service in the middle of their contract would pay less than those canceling at the beginning of their contract.

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