One person's collapsing telecom empire is another person's expansion opportunity. According to the New York Post, some "big name players" are watching Fairpoint Communication's flirtations with bankruptcy with great interest. Citing a "source with direct knowledge of the process," the Post says Windstream Communications may be buying up debt with an eye on acquiring the company's assets. Fairpoint CEO David Hauser last week talked rather casually about the very real possibility for a Fairpoint bankruptcy, after the company continues to struggle with the debt acquired from Verizon. Windstream meanwhile announced last week they'd be laying off 3% of their workforce to offset continued landline losses.