Windstream Holdings, Inc., also doing business as Windstream Communications or Windstream, is a provider of voice and data network communications (broadband, VoIP, MPLS), and managed services (virtual servers, managed firewall, data storage, cloud-based voice, etc.), to businesses in the United States. The company also offers residential broadband, phone and digital TV services to consumers within its coverage area. It is the ninth largest residential telephone provider in the country with service covering more than 8.1 million people in 21 states. Headquartered in Little Rock, Arkansas, Windstream has more than $6 billion in annual revenues and is listed on the S&P 500 index.
The company was formed in 2006, when Alltel's local telephone service merged with Valor Communications Group out of part of GTE (now part of Verizon's) local telephone business in the Southwestern United States.
Windstream is a partner with Dish Network, offering satellite service to its customers.
Video Windstream Holdings
History
Valor Telecom was formed in 2000 to take over GTE Southwest assets that Verizon was selling following its acquisition of GTE.
The company went public in 2005, under the name Valor Communications Group, Inc.
Change to Windstream
In 2006, Windstream Corporation formed through the spinoff of Alltel's landline business and merger with VALOR Communications Group.
Local Insight Yellow Pages
Local Insight Yellow Pages, Inc. was founded in 1984 as Alltel Publishing Corporation, and subsequently became Windstream's official directory publishing agent.
Windstream Yellow Pages published directories for former Alltel wireline, as well as directories for TDS Telecom and KLM Telephone customers, as well numerous smaller independent telephone companies. In 99% of the markets, the telephone directory published by Windstream Yellow Pages is for the Incumbent Local Exchange Carrier (ILEC) and is not a competing overlay directory.
Upon completion of the sale to Windstream Regatta Holdings, Inc., Windstream Yellow Pages was renamed Local Insight Yellow Pages. In 2007, LIR Holdings acquired CBD Media, the former advertising & publishing division of Cincinnati Bell.
In July 2009, Local Insight Regatta Holdings merged Local Insight Yellow Pages into The Berry Company, which it had acquired from AT&T.
Maps Windstream Holdings
Expansion and sales
On May 29, 2007, the company announced that it would acquire CT Communications for $585 million. The acquisition would result in an addition of approximately 158,000 access lines and 29,000 broadband customers, nearly doubling the company's presence in North Carolina. The sale closed August 31, 2007. The telephone operating company was renamed Windstream Concord Telephone.
In 2007, Windstream sold off its Windstream Yellow Pages unit to a private equity firm, who renamed the unit Local Insight Yellow Pages. The company has been dissolved into The Berry Company.
On May 11, 2009, the company announced that it would acquire D&E Communications of Ephrata, Pennsylvania for approximately $330 million. The acquisition would result in an addition of approximately 165,000 access lines and 44,000 high speed internet customers. The acquisition would greatly expand the company's presence in Pennsylvania, including significant expansion of its CLEC presence in seven markets in the state, including State College, PA, home of Pennsylvania State University. The transaction closed November 10, 2009.
On November 24, 2009, the company announced that it would acquire Iowa Telecom for $1.1 billion. The acquisition would result in an addition 256,000 access lines, about 95,000 high-speed Internet customers and about 26,000 digital TV customers, adding rural Iowa and Minnesota to the company.
On February 8, 2010, the company acquired Nuvox, a company formed from a merger of NuVox Communications, FDN Communications, Gabriel Communications and Trivergent Communications.
On August 17, 2010, the company announced that it had entered into a definitive agreement to acquire Q-Comm Corporation in a transaction valued at approximately $782 million. This includes Q-Comm's wholly owned subsidiaries Kentucky Data Link, Inc. (KDL), a fiber services provider in 22 states, Cinergy Metronet, and Norlight, Inc., a CLEC primarily serving the Midwest. Both KDL and Norlight are based in Evansville, IN. Q-Comm subsidiary nGenX will be spun off as independent companies prior to the close of the deal.
In November 2010, the company announced that it would acquire Hosted Solutions for $310 million. Hosted Solutions is a North Carolina-based managed hosting, cloud and colocation provider with a footprint of five datacenters in Cary, Raleigh and Charlotte, North Carolina as well as Boston, Massachusetts.
In August 2011, the company announced that it would acquire PAETEC Holding Corp., a Rochester, New York-based telecommunications company. As of December 1, 2011, this acquisition has been completed.
After the market closed on Friday April 24, 2015 legacy rural telecom provider Windstream Holdings, Inc. (NASDAQ: WIN) announced that it had completed the tax-free spinoff of "select telecommunications network assets," into Communications Sales and Leasing Inc. (CS&L).
This new CS&L REIT will begin trading on Monday under ticker symbol (NASDAQ: CSAL).
The transaction is also the catalyst for changes in the Windstream dividend; and a one-for-six (1:6) reverse stock split which could be confusing for investors and traders to understand.
In 2016, Windsteam sold the remaining shares in CSAL.
In January 2016, the company announced it was extending its 100 Gigabit Ethernet (100G) network from New Jersey data center operator NJFX's presence at Tata Communications' Cable Landing Station (CLS) in Wall Township, N.J., to Ashburn, Virginia's Internet hub, estimated to be the hub for 70 percent of the world's Internet traffic.
On November 7, 2016, Windstream announced a merger with Earthlink for about $1.1 billion in stock.
On April 13, 2017, Windstream announced that it would acquire Broadview Networks in an all-cash transaction valued at $227 million.
Change of CEO
On December 11, 2014 Windstream's CEO from 2006 to 2014, Jeffery R. Gardner, was replaced by Tony Thomas. Jeffery R. Gardner is staying on as an adviser and member of the Board of Directors through Feb 1, 2015.
See also
- List of United States telephone companies
References
External links
- Official website
- Windstream Internet
- Windstream Business
Source of article : Wikipedia
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