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On August 3, 2021, Lumen announced its sale of its local telephone assets in 20 states to Apollo Global Management, including Wisconsin, which closed in October 2022, launching the new Brightspeed brand. [4]
Lumen Technologies, Inc. (formerly CenturyLink, Inc.) is an American telecommunications company headquartered in Monroe, Louisiana, which offers communications, network services, security, cloud solutions, voice and managed services through its fiber optic and copper networks, as well as its data centers and cloud computing services.
CenturyLink grew as Century Telephone and later CenturyTel through acquiring many small and mid-size telephone companies. These include: CenturyTel of Chester, Inc. (Iowa, Minnesota) CenturyTel of Colorado, Inc. – formerly Universal Telephone; CenturyTel of Eagle, Inc. – formerly owned by Pacific Telecom
Level 3 Communications, Inc. was an American multinational telecommunications and Internet service provider company headquartered in Broomfield, Colorado. [4] It ultimately became a part of CenturyLink (now Lumen Technologies), where Level 3 President and CEO Jeff Storey was installed as Chief Operating Officer, becoming CEO of CenturyLink one year later in a prearranged succession plan.
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On April 27, 2011, telecommunications firm CenturyLink, Inc. and Savvis reached an agreement whereby CenturyLink acquired Savvis through a buyout of outstanding common shares in cash and stocks, for approximately $2.5 billion USD. This valued Savvis at $40 per share, which represented an 11% premium over Savvis’ closing price on April 26, 2011.
Qwest Corporation, doing business as CenturyLink QC, is a Regional Bell Operating Company owned by Lumen Technologies. It was originally named Mountain States Telephone and Telegraph Company , later becoming known as Mountain Bell , then US West Communications, Inc. from 1991 to 2000.
CenturyLink shareholders would hold a 50.5% share of ownership in the combined company, while Qwest shareholders would own the remaining 49.5%. The valuation of CenturyLink's purchase as of April 21, 2010, was $22.4 billion, including the assumption of $11.8 billion of outstanding debt held by Qwest as of December 31, 2009.