A $1.1 billion deal has been struck to merge Windstream Holdings of Little Rock with EarthLink Holdings in Atlanta and leave Windstream stockholders with 51 percent of the new entity. The larger company will remain headquartered in Little Rock.
The companies provide Internet, phone, digital and data services.
Windstream was formed in 2006 in the spinoff of Alltel’s landline business. Alltel was acquired by Verizon.
Here’s the Windstream news release. Tony Thomas, CEO of Windstream, will remain CEO of the bigger venture. No details are included about employment impact, if any.