Category Archives: Level 3

Level 3 buys Global Crossing

Level 3 has arranged to acquire fellow Tier 1 network operator Global Crossing in an all-stock deal worth $3 billion.

The deal will create an operator with fiber and other networks in around 50 countries throughout North America, Latin America and Europe, and subsea cable network connections to more than 70.

The combined company will operate a unique global services platform anchored by fiber optic networks on three continents, connected by extensive undersea facilities. The combined network will serve a worldwide customer set with owned network in more than 50 countries and connections to more than 70 countries. This transaction will create a company with pro forma combined 2010 revenues of $6.26 billion and pro forma combined 2010 Adjusted EBITDA of $1.27 billion before synergies and $1.57 billion after expected synergies.

Under the terms and subject to the conditions of the agreement, Global Crossing shareholders will receive 16 shares of Level

Level 3 Launches Referral Program in Latin America

Level 3 Communications, Inc. (NASDAQ: LVLT) today announced that it has launched a new referral program in a select group of Latin American markets that have seen a steady increase in demand for international bandwidth and a growing need for global enterprise solutions. Working with approved referral providers through the program, Latin American carriers will be able to extend their in-region networks by contracting directly with Level 3 to leverage its Internet and data services offered in North America and Europe.

The program

Level 3 Q3 2010

Third Quarter Financial Highlights

  • Consolidated revenue increased sequentially to $912 million
  • Core Network Services revenue grew 1 percent sequentially and 1 percent year-over-year; 2 percent year-over-year growth on a constant currency basis
  • Strong Communications Gross Margin and Communications Adjusted EBITDA Margin performance
  • Consolidated Adjusted EBITDA grew to $218 million from $209 million in the prior quarter and $213 million in the year-ago quarter
  • Capital spending increased as company continues to invest to support sales