BROOMFIELD, Colo., March 02, 2010
Level 3 Communications, Inc. (NYSE:LVLT, news, filings) today announced that the company has been awarded $13.7 million in federal grant funding from the National Telecommunications and Information Association (NTIA) under the American Recovery and Reinvestment Act. Level 3 will commit an additional $4.2 million in matching funds to the NTIA grant for the expansion of rural broadband.
"High-speed Internet and telecommunications services have become a vital part of building businesses and communities," said Sureel Choksi, chief marketing officer of Level 3. "Level 3 is excited to be part of the nationwide effort to improve broadband access for all Americans."
Level 3's nationwide network runs through many of the rural communities targeted for improved broadband across the United States. Level 3 will use the NTIA grant funding and its own capital to create dozens of new high-speed network access points or middle mile connections in rural areas across six states: California, Florida, Georgia, Kansas, Tennessee and Texas.
Each new access point on the Level 3 network will have the capabilities to provide local telephone, cable and wireless companies more efficient access to Internet, voice, data and video services with national and international reach. Direct access to the Level 3 network offers a diverse and competitive alternative to incumbent carriers with a greater range of services and network redundancy – often a requirement for the expansion of local businesses.
For more information about the Level 3 funding award, visit http://www.ntia.doc.gov/press/2010/BTOPgrants_03022010.html.
About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ: LVLT) is a leading international provider of fiber-based communications services. Enterprise, content, wholesale and government customers rely on Level 3 to deliver services with an industry-leading combination of scalability and value over an end-to-end fiber network. Level 3 offers a portfolio of metro and long-haul services, including transport, data, Internet, content delivery and voice. For more information, visit www.Level3.com.
© Level 3 Communications, LLC. All Rights Reserved. Level 3, Level 3 Communications and the Level 3 Communications 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/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service names, product names, company names or logos included herein are the trademarks or service marks of their respective owners.
Some of the statements made in this press release are forward looking in nature. These statements are based on management's current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3's control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to, the current uncertainty in the global financial markets and the global economy; disruptions in the financial markets that could affect Level 3's ability to obtain additional financing; as well as the company's ability to: increase and maintain the volume of traffic on the network; successfully integrate acquisitions; develop effective business support systems; defend intellectual property and proprietary rights; manage system and network failures or disruptions; develop new services that meet customer demands and generate acceptable margins; adapt to rapid technological changes that lead to further competition; attract and retain qualified management and other personnel; and meet all of the terms and conditions of debt obligations. Additional information concerning these and other important factors can be found within Level 3's filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.