CenturyTel and Embarq have announced that CenturyTel’s pending acquisition of EMBARQ has received approval from the Federal Communications Commission (FCC). The merger now has received all necessary approvals and the companies expect it to be effective on July 1, 2009.
The combined entity is expected to have an operating presence in 33 states, nearly eight million access lines, about two million broadband customers and more than 400,000 video subscribers, based on data as of September 30, 2008.
Tom Gerke, EMBARQ’s chief executive officer, said: We have committed to the FCC that we will remain focused on infrastructure development and broadband deployment after completion of the merger. Our combined company is committed to investing in our communities and providing our customers high-quality, reliable communications and expanded broadband services.
CenturyTel and EMBARQ have already received all necessary approvals from the states in which they provide local service, as well as that of their respective shareholders, who approved all proposals related to the merger on January 27, 2009.
The companies have already stated that the merger, announced on October 27, 2008, is expected to close during the second quarter of 2009 after federal and state regulatory approvals.
On November 24, 2008, the companies also received early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
The new company will begin operating under the corporate name CenturyLink immediately upon the closing of the transaction.
