Consolidated Communications

Consolidated Communications
Public
Traded as NASDAQ: CNSL
S&P 600 Component
Industry Telecommunications
Founded 1894 (1894) as the Mattoon Telephone Company in Mattoon, Illinois, United States
Headquarters Mattoon, Illinois, United States
Key people
 Bob Udell, President & CEO
Products Data & Internet, Voice, Hosted & Managed, Cloud Services, Security Services, IT Services, Wholesale Services, TV, Residential Internet, Residential Phone, Home Security
Revenue Increase US$ 1.1 billion (2017) [1]
Decrease US$ 38.6 million (2017) [1]
Increase US$ 65.0 million (2017) [1]
Total assets Increase US$ 3.72 billion (2017) [1]
Total equity Increase US$ 568.0 million (2017) [1]
Number of employees
 4,100 (2017) [1]
Website www.consolidated.com

Consolidated Communications Holdings, Inc., doing business as Consolidated Communications, is a broadband and business communications provider headquartered in Mattoon, Illinois. The company provides data, internet, voice, managed and hosted, cloud and IT services to business customers,[2] and internet, TV, phone and home security services to residential customers.[3] With 36,000 fiber route miles,[4] it is a top ten fiber provider in the U.S.[5], serving customers in 23 states[6].

Consolidated Communications began trading on the NASDAQ under ticker symbol CNSL in 2005.[7]

History

Consolidated Communications was founded as the Mattoon Telephone Company in 1894 by Dr. Iverson A. Lumpkin in Mattoon, Illinois. In 1924, the company became the Illinois Consolidated Telephone Company (ICTC) and began acquiring telephone companies in the region over the next several decades, including telephone companies in Christian County, Montgomery County, the Illinois Southeastern Telephone Company and the Effingham, Illinois exchange from Illinois Bell. In 1984, Consolidated Communications, Inc. (CCI) was formed as the parent company of ICTC, Consolidated Communications Directories and Consolidated Market Response.

In 1997, ICTC merged with McLeodUSA, but was purchased back in July 2002 by an investment group headed by ICTC Chairman and President Richard A. Lumpkin. The company name was then changed to Consolidated Communications.

Acquisition History

  • In April 2004, Consolidated Communications acquired Texas-based TXU Communications.[8]
  • In December 2007, Consolidated Communications acquired North Pittsburgh Systems Inc., including North Pittsburgh Telephone Company, Nauticom and Penn Telecom.[9]
  • In July 2012, Consolidated Communications acquired SureWest Communications, extending the company's reach to Roseville and Sacramento, California and Kansas City.[10]
  • In October 2014, Consolidated Communications acquired Enventis Corporation, formerly HickoryTech, adding operations in Minnesota, Iowa, Wisconsin, South Dakota and North Dakota to the company's portfolio.[11]
  • In July 2016, Consolidated Communications acquired Champaign Telephone Company (CTC), a business communications provider in the Champaign-Urbana, Illinois area.[12]
  • In July 2017, Consolidated Communications acquired FairPoint Communications, expanding the company's service area to 24 states.[13]

References

  1. 1 2 3 4 5 6 "CNSL Income Statement - Consolidated Communications Hol Stock - Yahoo Finance". finance.yahoo.com.
  2. ↑ "Business Services | Consolidated Communications". www.consolidated.com. Retrieved 2018-01-25.
  3. ↑ "Residential Services | Consolidated Communications". www.consolidated.com. Retrieved 2018-01-25.
  4. ↑ "Consolidated Communications Reports Third Quarter 2017 Results (NASDAQ:CNSL)". ir.consolidated.com. Retrieved 2018-01-25.
  5. ↑ "From CenturyLink to FirstLight: Charting the top 13 fiber buyers in 2017 - FierceTelecom". www.fiercetelecom.com.
  6. ↑ "Consolidated Communications Completes Divestiture of Virginia Properties - NASDAQ.com". NASDAQ.com. Retrieved 2018-08-22.
  7. ↑ "Investor FAQs - Consolidated Communications Holdings". ir.consolidated.com. Retrieved 2018-01-25.
  8. ↑ "CONSOLIDATED COMMUNICATIONS HOLDINGS INC". www.sec.gov. Retrieved 2018-01-25.
  9. ↑ "Consolidated Communications Completes Acquisition of North Pittsburgh Systems, Inc. and Plans First Quarter 2008 Launch of IPTV Service in Pennsylvania (NASDAQ:CNSL)". ir.consolidated.com. Retrieved 2018-01-25.
  10. ↑ "Consolidated Communications Completes Acquisition of SureWest Communications (NASDAQ:CNSL)". ir.consolidated.com. Retrieved 2018-01-25.
  11. ↑ "Consolidated Communications Completes Acquisition of Enventis Corporation (NASDAQ:CNSL)". ir.consolidated.com. Retrieved 2018-01-25.
  12. ↑ "Consolidated Communications Completes Acquisition of Champaign Telephone Company (CTC) (NASDAQ:CNSL)". ir.consolidated.com. Retrieved 2018-01-25.
  13. ↑ "Consolidated Communications Completes FairPoint Acquisition (NASDAQ:CNSL)". ir.consolidated.com. Retrieved 2018-01-25.
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