Level 3 has gotten commitments from its lenders to increase its borrowing power under its secured credit facility through a new $2 billion Tranche B 2022 Term Loan, part of which will finance the cash portion of its acquisition of tw telecom.
tw telecom, which is being acquired by Level 3 Communications, is adding more firepower to its existing network in San Diego by extending service into the various business parks located in Carlsbad.
Level 3 is making headway with its growing video business, winning a deal to provide its Video Cloud solution to video streaming provider iStreamPlanet, which will deliver it to major media and entertainment outlets.
Integra has made a key change to its top management team by naming board member Robert Guth as interim CEO and president. Guth takes over the helm from Kevin O'Hara, who joined Integra's board in 2009 and served as CEO since 2011.
Level 3 is moving to up the ante with competitors like AT&T by expanding its local fiber and on-net building footprint in Alpharetta, Ga., one of the Atlanta metro area's key technology hubs.
Windstream got the attention of the telecom world and financial community on Tuesday when it announced that it would spin off parts of its network assets into an independent Real Estate Investment Trust (REIT). Not surprisingly, this development quickly fueled speculation that other service providers could, or are considering, a similar move.
tw telecom, which is being acquired by Level 3 Communications, reported that second-quarter 2014 revenues rose 7.8 percent to $419.7 million on strong enterprise and data and Internet segment growth.
Level 3 continued to ride the wave of enterprise growth as its enterprise Core Network Services (CNS) segment rose 11 percent to $984 million.
Level 3 has been tasked by the Department of Homeland Security (DHS) to deliver a set of local area network (LAN) managed services inside the National Capital Region (NCR).
Level 3 Communications has put together the pieces of what will be the new management team once it closes its pending $5.7 billion acquisition of tw telecom later this year. The new team will include a collection of executives from both Level 3 and tw telecom.