Printed from http://www.electronista.com

Qwest, CenturyLink merge

updated 12:50 pm EDT, Thu April 22, 2010

CenturyLink aquires Qwest for $10.5 billion

Telecom giant CenturyLink has purchased Qwest, the two companies announced on Thursday. The tax-free, stock-for-stock deal is worth nearly $10.5 billion, but burdens CenturyLink with Qwest's $11.8 billion in debt. The new company will have 17 million lines and about 6.2 million Internet, video and wireless subscribers.

The new company will still be called CenturyLink and will count high speed access as one of its key selling points, as it will offer 173,000 miles of fiber optic networks across the US. It now has a broader range of services, including high-speed (up to 40Mbps) Internet, video, data hosting, along with fiber to cell tower links and other high bandwidth services.

Under the deal, current Qwest shareholders will own 49.5 percent of the new company, while CenturyLink shareholders will own 50.5 percent.

Qwest has been struggling in recent years as it has faced competition from larger carriers, some of whom have offered faster speeds. It briefly took to offering cellphone access but quit the field in October with relatively few subscribers.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

D-Link Wi-Fi Smart Plug

Home automation fans have been getting their fair share of gadgets and accessories in the last few years. Starting with light bulbs, a ...

Razer Kraken Pro headset

Gaming headphones are a challenge to get right, for a long list of reasons that are unique to the consumer buying them. Some shoppers ...

Patriot Aero Wireless Mobile Drive

Regardless of how large a tablet you buy, you always want more space. There's always one more movie or another album you'd cram on, if ...

Sponsor

toggle

Most Commented

 
toggle

Popular News