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CenturyTel completes merger with EMBARQ, changes name to CenturyLink

CenturyTel announced in July that its merger with EMBARQ Corp. is complete, and the new company was named CenturyLink. The combined company has more than 2.1 million broadband customers, more than 440,000 video subscribers and approximately 7.5 million access lines in 33 states.

“The completion of this merger is a significant event for our customers, communities, investors and employees,” said Glen F. Post III, president and chief executive officer. “CenturyLink has the advanced networks, the people and the financial stability to deliver the reliable and innovative services that our customers want and need.”

CenturyLink has 20,000 employees and remains headquartered in Monroe, La. Locally, the company has a broad customer base in Gig Harbor as well as several areas of north Kitsap County. It also has a customer service center in Gig Harbor that employs about 175 people and serves Washington and Oregon, and officials there told local media no changes are planned in local operations.

Officials said in announcing the merger that the combination also unites two very similar corporate cultures that share a strong commitment to their customers and the communities they serve.

The merger was originally announced last October, when the two boards of directors agreed on CenturyTel’s acquisition of the EMBARQ assets. The transaction was structured as a tax-free stock-for-stock exchange, and the enterprise value was estimated at $11.6 billion, including $5.8 of EMBARQ debt assumed by the new company. CenturyLink is expected to generate pro forma revenues of more than $8.8 billion.

While the company’s corporate identity immediately changed to CenturyLink, operations involving the customer and communications aspects will continue under the old two names until later this year, when CenturyLink Inc. undergo a full brand conversion.

For more information visit www.centurylink.com.

 
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