CenturyLink has entered into a definitive agreement to buy Internet backbone provider Level 3 Communications in a cash and stock transaction valued at around $34 billion. The deal, which was unanimously approved by the board of directors for both companies, bolsters CenturyLink’s fiber optic footprint by 200,000 miles, including 64,000 miles

Source: Hot Hardware – CenturyLink To Purchase Internet Backbone Provider Level 3 Communications For Billion