CenturyLink, the name of the new company formed from the merger of CenturyTel and Embarq, had representatives come to the Nov. 18 meeting of the Salem Chamber of Commerce to tell members about the merger. Their goal is to spread information about CenturyLink to other chambers, as well.
According to the company's Web site, www.centurylink.com, the company is based in Monroe, La., and is an S & P 500 company and on the Fortune 500 list of America's largest corporations.
Many in Arkansas and Missouri have heard of CenturyTel and have probably paid their phone and Internet bills to them for many years, but they may not have heard of Embarq. Embarq is a company that provides IP products for businesses.
The new merger allows the company to serve customers in 33 states. It has 7.3 million access lines, 2.1 million broadband customers, 470,000 video subscribers and approximately 20,000 employees. One of CenturyLink's goals for the future is to provide more jobs.
When the merger materialized, Embarq stockholders earned 1.37 CenturyTel shares for every share of Embarq.
According to information on the Web site, "The transaction was structured as a tax-free stock-for-stock exchange. Other than assuming Embarq's existing debt, the combined company has incurred neither any incremental debt nor any change to debt maturity schedules."
Once the conversion is complete, the name of the company will change to CenturyLink, Inc. by about May 2010. The New York Stock Exchange (NYSE) ticker symbol for the company is still under CTL.
According to the company, "While the company's corporate identity will immediately change to CenturyLink, customer-facing operations and communications will continue under the CenturyTel and Embarq brand names until a full brand conversion occurs later this year."
CenturyLink will provide the same services as CenturyTel and Embarq did when they were separate entities.
In Arkansas, CenturyLink now has about 430 employees and 192,300 access lines. The 2008 annual payroll in Arkansas for the company was $28,098,305 with a total investment of $1,039,214,272.
In Missouri, CenturyLink employs 2,071 people and has 566,400 access lines. The 2008 annual payroll was $162,047,926 with a total investment of $1,979,610,029.