Lumen Technologies, the Colorado internet giant better known by many as CenturyLink, is selling its residential business to AT&T.
AT&T will gain 1 million internet customers from the $5.75 billion acquisition, the company said in a statement. It will expand its reach in metro areas in 11 states, including Denver, according to the statement.
“We’re leading the race to connect more Americans with fiber, the best broadband connectivity technology available,” said John Stankey, Chairman and CEO of AT&T. “This deal with Lumen represents a significant investment in U.S. connectivity infrastructure that will create jobs and spur economic activity.”
The company anticipates doubling the communities where AT&T Fiber is available by the end of 2030.
The deal will reduce Lumen’s debt load and free up cash to better serve its big business customers.
“We are sharpening our focus on enterprise customers, and this transaction enhances our financial flexibility, enabling us to reimagine networking for enterprises in a multi-cloud, AI-first world,” Kate Johnson, president and CEO of Lumen, said in a statement. “As part of this deal, we are retaining the core infrastructure that allows us to continue innovating for enterprise customers.”
Lumen is what’s left of Level 3 Communications – a telecommunications company that got its start in Broomfield – after a series of mergers and name changes. Level 3 was acquired by Louisiana-based CenturyLink in 2017. CenturyLink changed its name to Lumen in 2020.
The transaction is expected to close in the first half of 2026. It hasn’t yet been approved by federal regulators.
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