Broadwing Exits Broadband Business, Sells Assets To Private Company

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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.

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