CenturyLink (CTL) Tops Q3 EPS by 1c
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October 31, 2016 6:32 AM EDT
MONROE, La., Oct. 31, 2016 /PRNewswire/ --Â CenturyLink, Inc. (NYSE: CTL) today reported results for third quarter 2016.
Consolidated Financial Results
Operating revenues for third quarter 2016 were $4.38 billion compared to $4.55 billion in third quarter 2015. A decline in high-cost support revenues related to the acceptance of Connect America Fund Phase 2 (CAF Phase 2) support payments during third quarter 2015, a substantial portion of which related to a one-time true-up for the first half of the year, along with a decline in legacy1,4 revenues, was partially offset by higher strategic revenues1,4 in third quarter... More
October 31, 2016 6:30 AM EDT
MONROE, La. and BROOMFIELD, Colo., Oct, 31, 2016 /PRNewswire/ -- CenturyLink (NYSE: CTL) and Level 3 Communications, Inc. (NYSE: LVLT) today announced that their Boards of Directors have unanimously approved a definitive merger agreement under which CenturyLink will acquire Level 3 in a cash and stock transaction valued at approximately $34 billion, including the assumption of debt. Under terms of the agreement, Level 3 shareholders will receive $26.50 per share in cash and a fixed exchange ratio of 1.4286 shares of CenturyLink stock for each Level 3 share they own, which implies a... More
