Several years ago, TW Telecom put itself up for sale.It looked likely that Level 3 Communications would buy them but Level 3 needed more time to refinance their $1.4 billion secured loan. A few days ago, Level 3 and TW Telecom agreed to a deal worth about $7.3 billion (with debt assumptions).
CenturyLink wanted to buy TW Telecom. Unfortunately for CenturyLink, their finances and debt were so bad that TW Telecom decided to simply wait for Level 3.
CenturyLink has long been rumored to be taken over by a number of companies.
Why? Because CenturyLink is one of a number of telecom companies that continues slowing down growth projections due to smaller sales, contributions and subscribers.
Or as Karl Bode so nicely puts it:
The reality is that CenturyLink is like most of this industry’s dinosaurs, preying on uncompetitive markets while avoiding upgrades at every opportunity, a tactic that can only take you so far in the face of exploding wireless broadband and faster cable broadband options. Most of CenturyLink’s customers are lucky to be able to get heavily-capped 3 Mbps lines, and most of the company’s upgrade announcements have been theatrical in nature.
Hopefully, they put some of that effort into actually upgrading their services in the future.