CS&L Begins Trading on NASDAQ After Windstream Completes REIT Spinoff
Communications Sales and Leasing Inc. believes it is the first real-estate investment trust to focus on the acquisition and leasing of communication distribution systems.
Communications Sales and Leasing Inc. believes it is the first real-estate investment trust to focus on the acquisition and leasing of communication distribution systems.
In other news, Windstream affirmed its financial guidance for the year.
Check out the channel takeaways from this week’s earnings call that have gone largely overlooked.
The Arkansas-based telecommunications company anticipating closing the REIT spinoff in the first half of 2015.
The new hire will have a major influence on how the products and services partners sell are positioned.
Windstream, the Little Rock, Arkansas-based telecommunications company, anticipates closing the transaction in the first half of 2015, pending the satisfaction of closing conditions including final approval by Windstream’s board of directors.
Windstream announced it will hold a special meeting of stockholders on Feb. 20, 2015, in conjunction with the spinoff to approve a one-for-six reverse stock split
REITs have garnered increased attention in telecom after Windstream announced an agreement to spin off its telecom network assets into one under a tax-free transaction that the company said will enable it to lower debt by $3.2 billion and boost cash flow.
One of the benefits of a REIT, explained Clinton Holmes of Black Coral Research, is that it can distribute more than 90 percent of their taxable income to unit holders without paying tax.
Data center and managed services revenues, which total approximately $31 million, increased 20 percent from the same period a year ago – a major bright spot for Windstream.
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