With the completion of the spin-off of Alltel Corporation's landline business merger with VALOR Communications Group Inc., Windstream Corp. today announced its formation as a public company, creating the largest telecommunications and entertainment services company focused on serving rural America. Windstream common stock begins trading July 18, 2006, on the New York Stock Exchange under the symbol WIN.
Headquartered in Little Rock, Arkansas, Windstream has 8,000 employees and offers voice, broadband and digital TV services in 16 states. The company has 55 retail stores and operates a directory publishing and communications product supply business. Windstream broadband service is expected to be available to approximately 80 percent of the company's customers by the end of the year, featuring speeds of up to 6.0 Mb.
Jeffery Gardner, former executive vice president and chief financial officer of Alltel, is president and CEO of the new company. "VALOR is a very good fit with the Alltel wireline business and the combined companies will add value for our shareholders and provide quality service for our customers," Gardner said.
