CenturyLink post 78 percent lower profit
Phone company CenturyLink Inc.’s second-quarter profit fell 78 percent as it had to write off more than expected of the value of Qwest, which it bought in April. In another wrinkle to the $12.2 billion acquisition, the company lost more broadband subscribers in the Qwest areas than it gained, something that never happened when Qwest [...]
Consumer advocates want Colorado regulators to raise service standards and potential fines for Qwest as it considers its proposed merger with CenturyTel. Colorado’s Office of Consumer Counsel says Qwest has been taking longer to answer customer phone calls and finish repairs. Officials there are concerned things could get worse because Qwest and Louisiana-based CenturyLink are [...]
Continue reading …Qwest Communications International Inc., which recently agreed to be acquired by a smaller phone company, on Wednesday said its first-quarter earnings tumbled 82 percent due to one-time tax charges. Its revenue fell 6.5 percent as customers continued to cancel land lines. Qwest, the country’s third-largest local phone company, said it earned $38 million, or 2 [...]
Continue reading …CenturyTel Inc., the country’s fifth-largest local-phone company, said Thursday that it will buy Qwest Communications International Inc., the third-largest, in a stock swap worth $10.6 billion to gain the benefits of scale in a shrinking business. The combined company would have about 18 million phone lines serving customers in 37 states, but would still be [...]
Continue reading …A federal judge has thrown out some claims in a civil lawsuit the Securities and Exchange Commission filed against former Qwest executives, including former CEO Joe Nacchio. U.S. District Judge Marcia Krieger let stand allegations focusing on whether Denver-based Qwest Communications International Inc. misled investors by not specifying how much of its revenue between 1999 [...]
Continue reading …DENVER (AP) – Qwest Communications International Inc. said today that it is calling off the auction for its nationwide long-haul data and telephone network.
The Denver-based phone company said the network was more valuable to the company than the amount it would raise in a sale.
Qwest did not say how much the bids it received were worth. News reports last week indicated Qwest received bids far below the $2 billion to $3 billion it wanted.
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