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On October 27, 2011, the FCC approved a six-year transfer process that would transition the money from the Universal Service Fund High-Cost Program into the new $4.5 billion a year Connect America Fund, effectively putting an end to the USF High-Cost Fund by 2018. [23] [FCC 3] [FCC 6] Post-2010 High cost programs:
In 2021, the US Congress passed a $1.2 trillion infrastructure package including $14.2 billion for the Affordable Connectivity Program. [7] [10] [11] The program replaced the Emergency Broadband Benefit program, with $14 billion dedicated to the act. [12] The ACP replaced the EBB on December 31, 2021. [11]
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CenturyLink ended 2017 with $1.3 billion in net income. [47] By the end of 2018, CenturyLink had $35 billion in long term debt. It determined it had overestimated the value of its goodwill and wrote down a $2.7 billion loss. This resulted in a $1.7 billion loss in net income for 2018. [47]
CenturyLink shareholders would hold a 50.5% share of ownership in the combined company, while Qwest shareholders would own the remaining 49.5%. The valuation of CenturyLink's purchase as of April 21, 2010, was $22.4 billion, including the assumption of $11.8 billion of outstanding debt held by Qwest as of December 31, 2009.
Level 3 Communications, Inc. was an American multinational telecommunications and Internet service provider company headquartered in Broomfield, Colorado. [4] It ultimately became a part of CenturyLink (now Lumen Technologies), where Level 3 President and CEO Jeff Storey was installed as Chief Operating Officer, becoming CEO of CenturyLink one year later in a prearranged succession plan.
Embarq Corporation (stylized as EMBARQ) was the largest independent local exchange carrier in the United States (below the Baby Bells), [2] serving customers in 18 states and providing local, long-distance, high-speed data and wireless services to residential and business customers.
The company was successful in their efforts, but at the time the cost to build fiber directly to consumer's homes proved too expensive to be profitable. In the mid-1990s the company evolved into a "carriers carrier" selling " dark fiber " capacity to other telecom and Internet providers to supplement their networks.