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FCC Approves CenturyTel and EMBARQ Merger
Thursday, June 25, 2009 1:53 PM


(Source: PRNewswire)trackingTransaction Has Now Received All Necessary Approvals

MONROE, La. and OVERLAND PARK, Kan., June 25 /PRNewswire- FirstCall/ -- CenturyTel, Inc. (NYSE: CTL) and Embarq Corporation (NYSE: EQ) today announced that CenturyTel's pending acquisition of EMBARQ has received approval from the Federal Communications Commission (FCC). The merger now has received all necessary approvals, and the companies expect the merger to be effective on July 1, 2009.

"The FCC's approval is a significant and exciting milestone toward completing the merger," said Glen F. Post III, CenturyTel's chairman and chief executive officer. "It has been a rigorous review process and we are pleased to have the FCC's approval and recognition that the combination of CenturyTel and EMBARQ offers many benefits to our customers and the communities we serve."

"We have committed to the FCC that we will remain focused on infrastructure development and broadband deployment after completion of the merger," said Tom Gerke, EMBARQ's chief executive officer. "Our combined company is committed to investing in our communities and providing our customers high-quality, reliable communications and expanded broadband services."

The FCC memorandum and order approving the merger can be found on the FCC website at: http://hraunfoss.fcc.gov/edocs_public/ attachmatch/FCC-09-54A1.doc. CenturyTel and EMBARQ have already received all necessary approvals from the states in which CenturyTel and EMBARQ provide local service, as well as that of their respective shareholders, who overwhelmingly approved all proposals related to the merger on Jan. 27, 2009. On Nov. 24, 2008, the companies also received early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

About CenturyTel

CenturyTel (NYSE: CTL) is a leading provider of communications, high-speed Internet and entertainment services in small-to-mid-size cities through our broadband and fiber transport networks. Included in the S&P 500 Index, CenturyTel delivers advanced communications with a personal touch to customers in 25 states. Visit us at www.centurytel.com.

About EMBARQ

Embarq Corporation (NYSE: EQ), headquartered in Overland Park, Kansas, offers a complete suite of communications services. EMBARQ has operations in 18 states and is in the Fortune 500(R) list of America's largest corporations. For consumers, EMBARQ offers an innovative portfolio of services that includes reliable local and long distance home phone service, high-speed Internet, wireless, and satellite TV from DISH Network(R) -- all on one monthly bill.



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