Jump to content

Windstream Holdings

From Wikipedia, the free encyclopedia
Windstream Holdings, Inc.
Company typePrivate
IndustryTelecommunications
Founded2006; 19 years ago (2006)
HeadquartersLittle Rock, Arkansas, U.S.
Key people
Paul H. Sunu (president & CEO)[1]
RevenueUS$4 billion (2023)[2]
Number of employees
11,080 (2019)[3]
ASN
Websitewww.windstream.com

Windstream Holdings, Inc., trading as Windstream Communications is a provider of voice and data network communications to businesses across the United States.[4] Under the Kinetic brand, it offers broadband, phone and digital streaming TV services to consumers within its coverage area. It is [when?] the ninth largest residential telephone provider in the country[5] with service covering more than 8.1 million people in 21 states.[6][7][8]

History

[edit]

Valor Telecom was formed in 2000 to take over GTE Southwest assets that Verizon was selling following its acquisition of GTE.[citation needed]

In 2006, Windstream Corporation formed through the spinoff of Alltel's landline business and merger with Valor.[citation needed]

Alltel Publishing Corporation had begun in 1984 within Alltel and published directories for Alltel wireline, TDS Telecom, KLM and other Incumbent Local Exchange Carriers.[citation needed] Windstream sold the directory business in 2007.[citation needed]

In 2007, Windstream purchased CT Communications for $585 million adding 158,000 access lines and 29,000 broadband customers.[9][10]

The 2009 acquisition of D&E Communications of Ephrata, Pennsylvania for $330 million added a further 165,000 access lines and 44,000 broadband customers.[11][12][13]

The next year's purchase of Iowa Telecom for $1.1 billion added 256,000 access lines, 95,000 broadband customers, 26,000 digital TV customers and a presence in rural Iowa and Minnesota.[14]

In 2010, the company acquired Nuvox, previously formed from a merger of NuVox Communications, NewSouth Communications, FDN Communications,[15] Gabriel Communications and Trivergent Communications.[16]

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),[17] a fiber services provider in 22 states and Norlight, Inc.,[18] a CLEC primarily serving the Midwest. Both KDL and Norlight are based in Evansville, IN. Q-Comm subsidiaries nGenX[19] and Cinergy Metronet[20] will be spun off as independent companies prior to the close of the deal.[21]

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.[22]

In 2011, the company aquired PAETEC Holding Corp., a Rochester, New York telecommunications company.[23]

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 is to trade under ticker symbol (NASDAQ: CSAL). The transaction is also the catalyst for changes in the Windstream dividend and a call for a one-for-six (1:6) reverse stock split. In 2016, Windsteam sold the remaining shares in CSAL.

In 2016, Windstream announced a merger with EarthLink.[24][25]

On April 13, 2017, Windstream announced that it would acquire Broadview Networks for $227 million.[26]

In 2019, the U.S. District Court of the Southern District of New York ruled that Windstream had defaulted on bond payments and its stock value fell by 60%.[27] It filed for Chapter 11 bankruptcy in response to a judgment against the company for $310 million.[28][29]

In 2020, Windstream emerged from bankruptcy as a privately held company, having reduced its debt by over $4 billion.[30]

See also

[edit]

References

[edit]
  1. ^ "Windstream Newsroom - Executives". Windstream. Archived from the original on 31 December 2023. Retrieved 31 December 2023.
  2. ^ "Windstream Factsheet - 4Q 2023" (PDF). Windstream Holdings. February 21, 2024. Archived (PDF) from the original on May 16, 2024. Retrieved May 16, 2024.
  3. ^ "Inline XBRL Viewer". Archived from the original on 2020-06-11. Retrieved 2020-05-23.
  4. ^ "Windstream Business Product Line Up". Telecom Carrier Reports. Archived from the original on 2012-01-16. Retrieved 2012-03-02.
  5. ^ Leichtman Research Group, "Research Notes," Archived October 17, 2016, at the Wayback Machine First Quarter 2012, pg. 6, Windstream (#9) with 1,931,700 residential phone lines.
  6. ^ Anders, David (April 21, 2022). "Need Home Internet Service? Find the Internet Providers in Your Area". CNET. Red Ventures. Archived from the original on March 7, 2023. Retrieved May 5, 2022.
  7. ^ Anders, David (April 28, 2022). "Kinetic by Windstream Home Internet Review: Your Results May Vary". CNET. Red Ventures. Archived from the original on May 6, 2022. Retrieved May 5, 2022.
  8. ^ Anderson, Duane. "Windstream Overview and Coverage". Broadband Now. Archived from the original on 2014-02-22. Retrieved 2014-02-12.
  9. ^ "Windstream Corporation to Acquire CT Communications for $585 Million". Phx.corporate-ir.net. Archived from the original on 2016-01-15. Retrieved 2013-05-03.
  10. ^ "Windstream Grows NC Presence with CT Buy". Telephonyonline.com. Retrieved 2013-05-03.
  11. ^ "Windstream to acquire D&E Communications". Windstream.com. Archived from the original on 2021-04-25. Retrieved 2013-05-03.
  12. ^ Ed Gubbins May 11th, 2009 (2009-05-11). "Blog.connectedplanetonline.com". Blog.connectedplanetonline.com. Archived from the original on 2013-06-02. Retrieved 2013-05-03.{{cite web}}: CS1 maint: numeric names: authors list (link)
  13. ^ "Investing.businessweek.com". Investing.businessweek.com. 2009-11-10. Archived from the original on October 10, 2012. Retrieved 2013-05-03.
  14. ^ "The transaction is expected to close in mid 2010".
  15. ^ "CLECs FDN, NuVox merge". Connected Planet Online. March 22, 2007. Archived from the original on April 8, 2014. Retrieved 2014-04-08.
  16. ^ "NuVox Acquisition Complete". Windstream.com. Archived from the original on 2013-05-12. Retrieved 2013-05-03.
  17. ^ KDLinc.com Archived August 8, 2010, at the Wayback Machine
  18. ^ "Norlight.com". Norlight.com. Retrieved 2013-05-03.[permanent dead link‍]
  19. ^ "Ngenx.com". ngenx.com. Archived from the original on August 8, 2010.
  20. ^ "DA 10-1669" (PDF). FCC. September 1, 2010. Archived (PDF) from the original on 31 January 2022. Retrieved November 12, 2023.
  21. ^ "Windstream to acquire Kentucky Data Link, Norlight". News.windstream.com. Archived from the original on 2013-05-26. Retrieved 2013-05-03.
  22. ^ "Windstream to acquire Hosted Solutions" (Press release). Windstream Communications. November 4, 2010. Archived from the original on 2015-09-11. Retrieved 2015-08-13.
  23. ^ Edwards, Adam. "Windstream Completes Acquisition of PAETEC". Telarus Industry Briefs. Archived from the original on 2012-06-14. Retrieved 2011-12-01.
  24. ^ "Windstream and EarthLink to Merge in $1.1 Billion Transaction". earthlink.com. 2016-11-07. Retrieved 2016-11-07.
  25. ^ "Windstream acquires EarthLink for $1.1B, creates 145K fiber route mile network - FierceTelecom". 7 November 2016. Archived from the original on 7 November 2016.
  26. ^ "Windstream to acquire Broadview Networks". April 13, 2017. Archived from the original on April 13, 2017. Retrieved April 13, 2017.
  27. ^ Rexaline, Shanthi (2019-02-19). "The Windstream Plunge, Explained". Yahoo Finance. Archived from the original on 2019-02-21. Retrieved 2019-02-21.
  28. ^ "Windstream Files for Bankruptcy After Aurelius Court Defeat". Bloomberg. 25 February 2019. Archived from the original on 2019-02-26. Retrieved 2019-02-25.
  29. ^ "Windstream Bankruptcy Filing Will Help Struggling Telecom 'Reorganize' Finances". news.crn.com. 26 February 2019. Archived from the original on 2023-02-06. Retrieved 2022-09-06.
  30. ^ "Windstream Secures Future for Long-Term Growth and Technology Leadership". The Associated Press. 2020-09-21. Archived from the original on 2024-02-25. Retrieved 2024-02-25.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=Windstream_Holdings&oldid=1280162043"