Jackieinpdx's Blog

So I started my morning as usual today. Got up, checked personal email, Facebook, a few blogs and then company email. Imagine my surprise at 4:30AM to see an email that came in at 4:13AM from the Qwest CEO, the company I work for announcing a merger. This merger is with CenturyLink (Century Tel) and is expected to have all approvals and complete in the 1^st quarter of 2011.

The business unit that I work in, Business Markets Group will remain intact. That was a stipulation of the merger negotiations. That means that BMG retains our headquarters in Denver (not Monroe, LA) and the EVP who runs the unit today stays. BMG is the revenue machine of Qwest. CenturyLink is primarily a consumer and small business provider. They have a small sales group like BMG.

Others in the company that may have duplication of work are most likely those at the upper management levels. Two CEOs, CFOs, head of legal, etc. will be the ones who will be affected. Not those of us in the trenches who do the work and bring in the new revenue.

So once this merger has completed I will be able to say that I have worked for 4 companies and never had to move, change jobs or lost vacation (actually I gained 2 weeks with the last merger) in 33 years. In fact, I work in the same building that I started in back in 1977. I have worked in 4 different buildings but all downtown Portland.

CenturyLink merged with Qwest Communications in a deal Thursday morning that is one of the largest telecommunications deals in the United States. The transaction is estimated to generate over $625 Million over a 3 to 5 year period following the transaction.

Qwest, a leader in voice, network, and data fiber-optic services for businesses, agreed to merge with CenturyLink (CenturyTel, Inc.) in an all stock deal in which CenturyLink’s shareholders will own 50.5 percent of stock in the company to Qwest shareholder’s 49.5 percent.  CenturyLink is a chief provider of video, voice, and broadband communications services to residential and business consumers. The company reported 2009 revenues totaling $19.8 Billion

Filed under: "work related", Communications | Tagged: CenturyLink, mergers, Qwest |