Level 3 Completes Acquisition of tw telecom

BROOMFIELD, Colorado , Oct. 31, 2014 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) announced it completed its acquisition of tw telecom. The transaction further positions the company as a global leader in the rapidly evolving business communications market.

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The combined company provides enterprise, government and carrier customers around the world with one of the most comprehensive product portfolios in the industry, supported by its global network and deep metro footprint across North America .

"Level 3 is helping customers migrate to the next wave of technology," said Jeff Storey , president and CEO of Level 3. "We know our customers' needs are changing, and by bringing together these two great, customer-focused companies, we are taking the next step in the evolution of Level 3 and bringing us closer to realizing our vision of being the trusted connection to the networked world.

"The combination of tw telecom's rich metro footprint with Level 3's global network, positions the company to provide local-to-global business solutions and deliver a world-class customer experience," Storey continued.

The combination of Level 3 and tw telecom:

tw telecom stockholders are receiving $10 of cash and 0.7 shares of Level 3 common stock for each share of tw telecom common stock owned. tw telecom's common stock will cease trading on NASDAQ as of market close on Oct. 31, 2014 , and will no longer be listed on NASDAQ.

The company's board of directors includes members of tw telecom and Level 3's boards, including James O. Ellis, Jr. (Chairman), Jeff K. Storey , Kevin P. Chilton , Archie R. Clemins , Steven T. Clontz , Irene M. Esteves (tw telecom board), T. Michael Glenn , Spencer B. Hays (tw telecom board), Michael J. Mahoney , Kevin W. Mooney (tw telecom board), Peter Seah Lim Huat and Peter van Oppen .

Level 3 will report third quarter 2014 results on Wednesday, Nov. 5, 2014 , and the company plans to discuss third quarter 2014 earnings results for both Level 3 and tw telecom during the call. The call will be broadcast live on Level 3's Investor Relations website at http://investors.level3.com at 10 a.m. ET on Nov. 5 .

Additional information regarding the third quarter 2014 results, including the presentation management will review on the conference call, will be available on Level 3's Investor Relations website. Investors unable to join the call via the Web can access the call at +1 877-283-5145 (U.S. Domestic) or +1 312-281-1200 (International). Questions should be sent to investor.relations@level3.com.

The call will be archived and available on Level 3's Investor Relations website or can be accessed as an audio replay starting at 2 p.m. ET on Nov 5 until 1 p.m. ET on Jan. 3, 2015 . The replay can be accessed by dialing +1 800-633-8284 (U.S. Domestic) or +1 402-977-9140 (International), conference code 21738057.

Level 3 Communications, Inc. (NYSE: LVLT) is a Fortune 500 company that provides local, national and global communications services to enterprise, government and carrier customers. Level 3's comprehensive portfolio of secure, managed solutions includes fiber and infrastructure solutions; IP-based voice and data communications; wide-area Ethernet services; video and content distribution; data center and cloud-based solutions. Level 3 serves customers in more than 500 markets in over 60 countries across a global services platform anchored by owned fiber networks on three continents and connected by extensive undersea facilities. For more information, please visit level3.mediaroom.com or get to know us on Twitter, Facebook and LinkedIn.

© Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3 Communications, Level (3) and the Level 3 Logo are either registered service marks or service marks of Level 3 Communications, LLC and/or one of its Affiliates in the United States and elsewhere. Any other service names, product names, company names or logos included herein are the trademarks or service marks of their respective owners. Level 3 services are provided by subsidiaries of Level 3 Communications, Inc.