Windstream Communications New Brand Name for Spinoff of Alltel's Landline Business, Merger with VALOR CommunicationsWindstream
April 10 2006 - 11:00AM
Business Wire
The new company to be formed through the spinoff of Alltel's (NYSE:
AT) landline business and merger with VALOR Communications Group
will be named Windstream Communications. Jeff Gardner, president
and CEO of Windstream Corporation, announced the name and logo to
employees this morning during a Web cast. "Windstream
Communications builds on our 60-year history as a reliable customer
ally with fresh, innovative thinking and technology to deliver the
information, entertainment and personal connections that customers
need to thrive in today's global economy," Gardner said. "This is
an important day for the wireline business because now employees
have a name to rally around and they can begin building a distinct
identity for Windstream," said Scott Ford, president and CEO of
Alltel. "Windstream has the management strength, the workforce
talent and the capital structure to be successful in the rural
telecom space." On Dec. 9, Alltel announced that it would spin off
its landline business and merge it with VALOR Communications Group.
The combination will create a major voice, broadband and
entertainment services company focused on the rural U.S. The
transaction will reposition the remaining Alltel as a pure-play
wireless service provider with roughly 11 million customers in 34
states. Windstream Communications' corporate headquarters will be
located in Little Rock. The new company expects to trade on the New
York Stock Exchange under the ticker symbol "WIN" upon close of the
spinoff from Alltel and merger with VALOR, which is expected to be
completed by mid-year. "Windstream will have a variety of service
offerings including voice, broadband and satellite TV, designed to
help us 'win' in the marketplace," said Keith Paglusch, chief
operating officer of the new company. Company officials partnered
with Lippincott Mercer of New York to develop the new name and
logo. In addition, the company has selected The Concept Farm of New
York as its advertising agency. For more information, visit
www.windstreamcomm.com. About Windstream Communications After
separating from Alltel and merging with VALOR Communications Group,
Windstream Communications will provide voice, broadband and
entertainment services to customers in 16 states. The company will
have approximately 3.4 million access lines and about $3.4 billion
in annual revenues.
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