How should I handle a stock acquired by spinoff?

[John K. Taber]

Verizon sold its wired communications to Frontier Communcations (FTR). As a
result, suddenly as of 7/2 I own 94 shares of FTP.

How do I enter this transaction in my GnuCash investment register(s)? I want
to show cost basis I think, but this is not purchased stock, nor a gift. How
on earth do I account for it?