Extending its shopping spree across rural America into the upper Midwest, Windstream Corp. said Tuesday that it will buy an Iowa phone company in a $1.1 billion deal.
The acquisition is expected to bring Little Rock-based Windstream another 377,000 in combined landline, broadband and digital TV customers. It also will add to Windstream’s books an additional $600 million in debt currently held by Iowa Telecommunications Services Inc., if approved by regulators and stockholders.
Traditional landline business has been souring as more customers switch entirely to mobile phones. But Windstream has gobbled up a string of companies that offer phone, Internet and TV service largely in rural areas - where customers are more apt to keep a landline and ...
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Business, Pages 25 on 11/25/2009
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