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Lumen Technologies
Lumen Technologies, Inc. (formerly CenturyLink, Inc.) is an American telecommunications company headquartered in Monroe, Louisiana. It offers network, security, cloud, voice, and other managed communications services through its fiber optic and copper networks, data centers and cloud computing services. The company has been included in the S&P 600 index since March 2023, and was previously listed among the S&P 500.
Its communications services have included local and long-distance voice, broadband internet, Multiprotocol Label Switching, private line (including special access), Ethernet, hosting (including cloud hosting and managed hosting), data integration, video, network, public access, Voice over Internet Protocol (VoIP), information technology, and other ancillary services.
Lumen has gone through many acquisitions, divestments, and structural changes. In the 20th century, this primarily consisted of buying and selling local telecom providers. Larger mergers at the beginning of the 21st century added internet service providing to Lumen's core business. As cloud computing became more important, Lumen acquired businesses serving enterprise cloud customers, while divesting its consumer connectivity business to AT&T.
The earliest predecessor of Lumen was the Oak Ridge Telephone Company in Oak Ridge, Louisiana, which was owned by F. E. Hogan Sr. In 1930, Hogan sold the company, with 75 paid subscribers, to William Clarke and Marie Williams, for $500. In 1946, Clarke McRae Williams received ownership of the family's telephone company as a wedding gift. Clarke purchased the Marion Telephone Company and eventually made it his base of operation as he grew his company through more acquisitions. The company remained as a family-operated business until it became incorporated in 1968. It went public in 1978.
By 1967, Oak Ridge Telephone Company served three states with 10,000 access lines. That year, the company was incorporated as Central Telephone and Electronics. Clarke M. Williams served as president and chairman of the board.
In 1971, the company was renamed Century Telephone Enterprises, Inc. In 1972, Century Telephone acquired the La Crosse Telephone Corporation, of Wisconsin. This began a multi-decade spree of acquisitions which grew the size of the company. The company went public in 1978 on the New York Stock Exchange.
In 1985, Century Telephone sold several subsidiaries to Colonial Telephone for $4.66 million.
In 1987, the stock price rapidly increased from its low that year, before dropping in the 1987 stock market crash. Earnings grew each year from their 1983 low, and by 1987 they reached nearly US$20 million.
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Lumen Technologies
Lumen Technologies, Inc. (formerly CenturyLink, Inc.) is an American telecommunications company headquartered in Monroe, Louisiana. It offers network, security, cloud, voice, and other managed communications services through its fiber optic and copper networks, data centers and cloud computing services. The company has been included in the S&P 600 index since March 2023, and was previously listed among the S&P 500.
Its communications services have included local and long-distance voice, broadband internet, Multiprotocol Label Switching, private line (including special access), Ethernet, hosting (including cloud hosting and managed hosting), data integration, video, network, public access, Voice over Internet Protocol (VoIP), information technology, and other ancillary services.
Lumen has gone through many acquisitions, divestments, and structural changes. In the 20th century, this primarily consisted of buying and selling local telecom providers. Larger mergers at the beginning of the 21st century added internet service providing to Lumen's core business. As cloud computing became more important, Lumen acquired businesses serving enterprise cloud customers, while divesting its consumer connectivity business to AT&T.
The earliest predecessor of Lumen was the Oak Ridge Telephone Company in Oak Ridge, Louisiana, which was owned by F. E. Hogan Sr. In 1930, Hogan sold the company, with 75 paid subscribers, to William Clarke and Marie Williams, for $500. In 1946, Clarke McRae Williams received ownership of the family's telephone company as a wedding gift. Clarke purchased the Marion Telephone Company and eventually made it his base of operation as he grew his company through more acquisitions. The company remained as a family-operated business until it became incorporated in 1968. It went public in 1978.
By 1967, Oak Ridge Telephone Company served three states with 10,000 access lines. That year, the company was incorporated as Central Telephone and Electronics. Clarke M. Williams served as president and chairman of the board.
In 1971, the company was renamed Century Telephone Enterprises, Inc. In 1972, Century Telephone acquired the La Crosse Telephone Corporation, of Wisconsin. This began a multi-decade spree of acquisitions which grew the size of the company. The company went public in 1978 on the New York Stock Exchange.
In 1985, Century Telephone sold several subsidiaries to Colonial Telephone for $4.66 million.
In 1987, the stock price rapidly increased from its low that year, before dropping in the 1987 stock market crash. Earnings grew each year from their 1983 low, and by 1987 they reached nearly US$20 million.