Google Fiber will be sold to private equity firm and merge with cable company

Google Fiber, now officially called GFiber, is being sold to private equity firm Stonepeak and will be combined with cable-and-fiber firm Astound Broadband to create a larger Internet service provider.

Google owner Alphabet announced Wednesday that it will keep only a minority stake in the fiber ISP that launched with grand ambitions in 2012 but scaled back its expansion plans in 2016. Alphabet and Astound owner Stonepeak announced "an agreement to combine GFiber with Astound Broadband...