Broadwing is selling its broadband business, Broadwing Communications Services, to privately held C III Communications for $129 million, the company said Wednesday.
Broadwing spent about $3 billion to build its fiber-optic network. Pending Federal Communications Committee approval, C III Communications will acquire Broadwing's fiber-optic cables, all-optical switched network and its network operations center.
Broadwing provides broadband services to more than 1,000 corporate customers in the United States.
St. Louis-based C III Communications is owned by Cequel III LLC, an investment firm in Columbia, Md.