Two multi-billion dollar telecommunications giants with huge footprints in Colorado are reportedly close to merging.
Broomfield-based Level 3 Communications and Louisiana-based CenturyLink Inc. are in advanced talks to unite, and a deal could be announced in coming weeks, the Wall Street Journal reported Thursday.
CenturyLink is an internet and phone service provider and one of the largest employers in Denver and Arapahoe counties with more than 5,000 employees, according to the Metro Denver Economic Development Corp.
The regional business group estimates that Level 3 is the largest private employer in Broomfield County with more than 2,300 workers. The company is a major provider of internet to businesses.
What a deal would mean for Colorado workers remains to be seen as the terms of the deal weren’t immediately available to the public. In many cases, mergers result in at least some layoffs to eliminate position redundancies and save both companies money.
A deal would likely allow CenturyLink and Level 3 to better compete with other telecommunication giants like Comcast and AT&T. Last week, AT&T announced plans to buy the global media company Time Warner in an $85 billion deal.