Lumen Technologies

Lazard Reports Fourth-Quarter and Full-Year 2023 Results

Retrieved on: 
Thursday, February 1, 2024

Operating revenue was $761 million for the fourth quarter of 2023, 13% higher than the fourth quarter of 2022, and $2,440 million for 2023, 12% lower than 2022.

Key Points: 
  • Operating revenue was $761 million for the fourth quarter of 2023, 13% higher than the fourth quarter of 2022, and $2,440 million for 2023, 12% lower than 2022.
  • For the fourth quarter of 2023, Asset Management operating revenue was $274 million, 6% higher than the fourth quarter of 2022.
  • Effective January 1, 2024, Lazard completed its conversion to a U.S. C-Corporation and changed its name from Lazard Ltd to Lazard, Inc.
  • ET on February 1, 2024, to discuss the company’s financial results for the fourth quarter and full year of 2023.

Businesses Ask for Private, On-demand Network Connections, Lumen Delivers

Retrieved on: 
Wednesday, January 31, 2024

DENVER, Jan. 31, 2024 /PRNewswire/ -- Private cloud connections, data protection, and enhanced security. Lumen customers are requesting these features as their need to move substantial amounts of sensitive data and secure distributed business locations becomes more critical. Lumen Technologies (NYSE: LUMN) is meeting that need with two new Network-as-a-Service (NaaS) solutions with private connections: Lumen® Ethernet On-Demand and Lumen® IP-VPN (Internet Protocol Virtual Private Network) On-Demand.

Key Points: 
  • Lumen Technologies (NYSE: LUMN) is meeting that need with two new Network-as-a-Service (NaaS) solutions with private connections: Lumen® Ethernet On-Demand and Lumen® IP-VPN (Internet Protocol Virtual Private Network) On-Demand.
  • Lumen launched NaaS and Lumen® Internet On-Demand in 2023 to help businesses easily buy, use, and manage networking services.
  • "Lumen NaaS Private Connections resolves this challenge by offering both performance and enhanced security over their network connections.
  • For more information on Lumen Network-as-a-Service and Private Connections, visit Lumen® Ethernet On-Demand and Lumen® IP-VPN .

Network Resilience Coalition Offers Recommendations for Improving Network Infrastructure Security in New White Paper

Retrieved on: 
Tuesday, January 23, 2024

A new white paper released today from the Network Resilience Coalition, an alliance composed of technology providers, security experts, and network operators, offers recommendations on how vendors and users of networking products can collaborate to improve the overall security of networks.

Key Points: 
  • A new white paper released today from the Network Resilience Coalition, an alliance composed of technology providers, security experts, and network operators, offers recommendations on how vendors and users of networking products can collaborate to improve the overall security of networks.
  • The white paper, “Protecting Network Resiliency” was developed after months of collaboration between industry and security experts through the Network Resilience Coalition , which launched in the summer of 2023 to improve the security, safety, and resilience of the hardware and software that makes up our networks.
  • According to the paper, the long-term benefits, such as preventing disruptive incidents and enhancing overall network resilience, outweigh the upfront costs of implementing these best practices.
  • “Network resilience is vital for the security of critical network infrastructure on which our economy relies,” said Ari Schwartz, coordinator of the Center for Cybersecurity Policy & Law, a leading cyber-policy focused non-profit that formed the Network Resilience Coalition.

Lumen Technologies sets fourth quarter 2023 earnings call date

Retrieved on: 
Thursday, January 25, 2024

DENVER, Jan. 25, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN), will release its fourth quarter 2023 results on Feb. 6, 2024.

Key Points: 
  • DENVER, Jan. 25, 2024 /PRNewswire/ -- Lumen Technologies (NYSE: LUMN), will release its fourth quarter 2023 results on Feb. 6, 2024.
  • The company will broadcast a live conference call on its Investor Relations website at http://ir.lumen.com at 5 p.m.
  • ET.
  • Additional information regarding the fourth quarter 2023 results, including the company's earnings release, investor presentation, and related materials will be available on Lumen's Investor Relations website.

Lumen Bolsters Runway to Execute Transformation

Retrieved on: 
Thursday, January 25, 2024

DENVER, Jan. 25, 2024 /PRNewswire/ -- Lumen Technologies, Inc. (NYSE: LUMN) ("Lumen" or the "Company") today announced that it has entered into an amended and restated transaction support agreement (the "TSA") with a broadened group of creditors who now represent, in the aggregate, over $12.5 billion of the outstanding indebtedness and commitments of the Company and its subsidiaries and represent over 70% in the aggregate of Lumen and Level 3 debt maturing through 2027.  The amended TSA announced today is supported by a significantly larger group of creditors across more of Lumen's capital structure than the agreement previously announced on October 31, 2023. The TSA will, among other things, extend debt maturities to primarily 2029 and beyond, provide $1.325 billion of financing to the Company through new long-term debt and provide access to a new revolving credit facility in an amount expected to be approximately $1 billion. Lumen expects to complete the transactions contemplated by the TSA in the first quarter of 2024, subject to the satisfaction of limited remaining closing conditions. The broad support across the Company's capital structure demonstrates creditors' and stakeholders' conviction in Lumen's turnaround plan and growth strategy.

Key Points: 
  • "This agreement represents another positive step forward in the Lumen turnaround story and creates substantial runway for the Company to achieve its financial and capital structure goals.
  • The TSA transactions, when completed, will provide Lumen significant flexibility as we continue to execute on our transformation journey of disrupting telecom," commented Kate Johnson, President and Chief Executive Officer of Lumen.
  • Lumen plans to make certain term loan transactions available to all holders in connection with the consummation of such transactions.
  • Following consummation of the TSA transactions, Lumen may assess potential follow-on transactions with respect to non-participating debt.

Hilco Streambank Seeks Offers for Assets Related to Telecom ILEC (Incumbent Local Exchange Carrier)

Retrieved on: 
Tuesday, January 23, 2024

NEW YORK, Jan. 23, 2024 /PRNewswire/ -- Hilco Streambank is offering for sale 50 Class A voting shares in TelUSA Holdings, LLC, which owns 100% of the membership interests in ILEC Telephone USA of Wisconsin, LLC ("TelUSA Wisconsin"), a telecommunications ILEC (incumbent local exchange carrier).

Key Points: 
  • The shares are being offered as part of a sale pursuant to Article 9 of the Uniform Commercial Code.
  • Hilco Streambank Senior Vice President Richelle Kalnit remarked, "TelUSA Wisconsin – operating as CenturyLink – is a well-established telecom provider in Wisconsin, delivering services to approximately 32,000 access lines and 18,000 broadband customers.
  • The assets will be sold free and clear of the secured lender's lien and any subordinate security interests in the assets.
  • The assets are being sold without recourse to the secured party and its attorneys, agents, or representatives.

PacketFabric Names Digital Infrastructure Industry Veteran Wes Jensen Chief Technology Officer

Retrieved on: 
Monday, January 22, 2024

CULVER CITY, Calif., Jan. 22, 2024 /PRNewswire/ -- PacketFabric, a leading Network as a Service (NaaS) innovator and a Digital Alpha Advisors, LLC portfolio company, today announced Wes Jensen has been appointed the company's Chief Technology Officer. Most recently, Jensen drove technology innovation and strategy at Digital Realty, one of the largest cloud and carrier-neutral data center providers in the world. He has also co-founded and sits on the board of numerous Technology Company startups in the digital infrastructure, blockchain, and cryptocurrency space.

Key Points: 
  • Jensen has 25 years of technology leadership experience at major telecommunications and digital infrastructure companies, including Digital Realty, Lumen Technologies, EarthLink, and Verizon
    CULVER CITY, Calif., Jan. 22, 2024 /PRNewswire/ -- PacketFabric , a leading Network as a Service (NaaS) innovator and a Digital Alpha Advisors, LLC portfolio company, today announced Wes Jensen has been appointed the company's Chief Technology Officer.
  • Most recently, Jensen drove technology innovation and strategy at Digital Realty, one of the largest cloud and carrier-neutral data center providers in the world.
  • He has also co-founded and sits on the board of numerous Technology Company startups in the digital infrastructure, blockchain, and cryptocurrency space.
  • "Wes is a vital addition to the Executive team," said Vincent English, Chief Executive Officer at PacketFabric.

Surge Ventures Expands Board of Advisors with the Addition of Nimesh Mehta, Joseph Kuo, Brian Johnson and Ann Robinson

Retrieved on: 
Monday, January 22, 2024

MENLO PARK, Calif., Jan. 22, 2024 /PRNewswire/ -- Surge Ventures (Surge), a new SaaS venture studio initially targeting the financial services and wealth management industry, announced the expansion of its advisory board comprised of wealth management and FinTech industry executives to help guide the firm as it continues its journey to find, fund and nurture the leading technologies of tomorrow. New Board members are Nimesh Mehta, Joseph Kuo, Brian Johnson and Ann Robinson. They join current members, Jason Lish (Chairman), Dr. Neil Daswani, John Rostern, Larry Roth, Matthew Martin, Geoff Moore.

Key Points: 
  • New Board members are Nimesh Mehta, Joseph Kuo, Brian Johnson and Ann Robinson.
  • Surge has established a strong Industry Council comprised of seasoned executives and influencers from across the FinTech and wealth management sectors.
  • The new Board members will add their voices as strategic counselors to Surge's leadership, as the firm executes its vision and growth plans.
  • "I am extremely excited to welcome Nimesh, Joe, Brian and Ann to the Surge Ventures Industry Council," said Lish.

Gordon Kroft Joins Centerview Partners

Retrieved on: 
Tuesday, January 9, 2024

Centerview Partners, a leading independent investment banking advisory firm, announced today that Gordon Kroft has joined the firm as a Partner in its New York office.

Key Points: 
  • Centerview Partners, a leading independent investment banking advisory firm, announced today that Gordon Kroft has joined the firm as a Partner in its New York office.
  • Mr. Kroft joins Centerview from Citigroup, where he most recently served as a Managing Director and Co-Head of Citi’s Global Communications and Media Group.
  • “Gordie joins Centerview at a time when communications companies are evolving rapidly with technological and business model disruption,” said Robert Pruzan, co-founder of Centerview.
  • Prior to joining Citi in 2013, Mr. Kroft served as Head of Americas Telecom at Barclays Capital, and he began his career in Lehman Brothers’ Communications and Media practice.

Broadband Services Market to Surpass US$ 750.9 Billion by 2030, Says Coherent Market Insights

Retrieved on: 
Tuesday, January 9, 2024

BURLINGAME, Calif., Jan. 9, 2024 /PRNewswire/ -- According to Coherent Market Insights, global broadband services market is generated $410.82 billion in 2023, and is anticipated to generate $750.9 billion by 2030, witnessing a CAGR of 9% from 2023 to 2030.

Key Points: 
  • BURLINGAME, Calif., Jan. 9, 2024 /PRNewswire/ -- According to Coherent Market Insights, global broadband services market is generated $410.82 billion in 2023, and is anticipated to generate $750.9 billion by 2030, witnessing a CAGR of 9% from 2023 to 2030.
  • Broadband services offer the bandwidth required to stream high-quality videos without buffering, which has fueled the market growth.
  • Two key trends noticed in the Broadband Services Market are the advent of 5G technology and the increasing focus on fiber optic networks.
  • The demand for 5G-enabled devices and services is on the rise, thereby driving the growth of the broadband services market.