CenturyLink Inks Verizon Deal
Companies announce agreement after former reports earnings.
February 15, 2011
CenturyLink and Verizon Wireless said today they have formed an agreement under which CenturyLink will offer Verizon Wireless equipment and service plans to its residential and small business customers.
CenturyLink customers will now have access to Verizon ( VZ - news - people ) Wireless broadband, entertainment, voice and wireless services, as well as its phones, tablet and netbook computers, mobile hotspots and USB modems.
In addition, CenturyLink customers will have access to Verizons 4G LTE network, currently available in 38 cities and 60 airports. Verizon plans to extend its 4G network to 140 markets by the end of 2011.
CenturyLink also posted a decline in fourth quarter earnings today, to $232.3 million, or $0.76 per share, compared to $286.7 million, or $0.95 per share, in the same quarter last year. It is due to acquire Qwest Communications ( Q - news - people ) in April. Qwest said today it swung to a loss for the fourth quarter. Verizon Wireless is a joint venture of Verizon Communications and Vodafone ( VOD - news - people ) .