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Press Releases

CenturyLink and Qwest, Merger Agreement Approved

April 21, 2010

CenturyLink and Qwest Communications announced that their boards of directors have approved an agreement under which CenturyLink will acquire Qwest in a tax-free, stock-for-stock transaction.

Leveraging CenturyLink's proven integration experience, the transaction is expected to generate annual operating and capital synergies of approximately $625 million when fully recognized over a three- to five-year period following the close of the transaction. As of December 31, 2009, CenturyLink and Qwest served local markets in 37 states with approximately 5 million broadband customers, 17 million access lines, 1,415,000 video subscribers and 850,000 wireless consumers.

This combination will result in a company whose enterprise business will be a significant contributor to its growth which, along with the consumer business, will allow it to offer innovative broadband products and services over its advanced networks.