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Consolidated Communications

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Consolidated Communications Holdings, Inc.
Company typePublic
Nasdaq: CNSL
S&P 600 component
IndustryTelecommunications
Founded1894; 130 years ago (1894), as the Mattoon Telephone Company in Mattoon, Illinois, U.S.
Headquarters
Mattoon, Illinois
,
U.S.
Key people
Bob Udell (president & CEO)
ProductsData & internet, voice, hosted & managed, cloud services, security services, IT services, wholesale services, TV, residential internet, residential phone, home security
RevenueIncrease US$ 1.2 billion (2022) [1]
Increase US$ 42.8 million (2022) [1]
Increase US$ 100.0 million (2022) [1]
Total assetsIncrease US$ 3.8 billion (2022) [1]
Total equityIncrease US$ 1.0 billion (2022) [1]
Number of employees
3,200 (2022) [1]
Websitewww.consolidated.com Edit this at Wikidata

Consolidated Communications Holdings, Inc. is an American broadband and business communications provider headquartered in Mattoon, Illinois. With 36,000 fiber route miles,[2] it is a top ten fiber provider in the U.S.,[3] serving customers in 23 states.[4]

The company provides data, internet, voice, managed and hosted, cloud and IT services to business customers,[5] and internet, TV, phone, and home security services to residential customers.[6] It began trading on the NASDAQ under ticker symbol CNSL in 2005.[7]

History

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Consolidated Communications was founded as the Mattoon Telephone Company in 1894 by Dr. Iverson A. Lumpkin in Mattoon, Illinois.

In 1924, the company became the Illinois Consolidated Telephone Company (ICTC) and began acquiring telephone companies in the region over the next several decades, including telephone companies in Christian County, Montgomery County, the Illinois Southeastern Telephone Company and the Effingham, Illinois exchange from Illinois Bell.

In 1984, Consolidated Communications, Inc. (CCI) was formed as the parent company of ICTC, Consolidated Communications Directories and Consolidated Market Response.[8] In 2002, five years after CCI merged with McLeodUSA,[9] the firm was acquired by a group of investors led by ICTC Chairman and President Richard A. Lumpkin,[10] and its name was changed to Consolidated Communications.

In December 2024, Consolidated Communications Holdings, Inc. announced that it had completed its merger with a company affiliated with investment funds managed by Searchlight Capital Partners.[11]


States

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The company offers internet, traditional landline phone or VoIP, home security, pay television, web hosting, and wholesale data) in 23 states across the United States.[12]

Acquisition History

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  • In April 2004, Consolidated Communications acquired Texas-based TXU Communications.[13]
  • In December 2007, Consolidated Communications acquired North Pittsburgh Systems Inc., including North Pittsburgh Telephone Company, Nauticom and Penn Telecom.[14]
  • In July 2012, Consolidated Communications acquired SureWest Communications, extending the company's reach to Roseville and Sacramento, California and Kansas City.[15]
  • In October 2014, Consolidated Communications acquired Enventis Corporation, formerly HickoryTech, adding operations in Minnesota, Iowa, Wisconsin, South Dakota and North Dakota to the company's portfolio.[16]
  • In July 2016, Consolidated Communications acquired Champaign Telephone Company (CTC), a business communications provider in the Champaign-Urbana, Illinois area.[17]
  • In July 2017, Consolidated Communications acquired FairPoint Communications, expanding the company's service area to 24 states.[18]

References

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  1. ^ a b c d e f "CNSL Income Statement - Consolidated Communications Hol Stock - Yahoo Finance". finance.yahoo.com.
  2. ^ "Consolidated Communications Reports Third Quarter 2017 Results (NASDAQ:CNSL)". ir.consolidated.com. Archived from the original on January 25, 2018. Retrieved January 25, 2018.
  3. ^ "From CenturyLink to FirstLight: Charting the top 13 fiber buyers in 2017 - FierceTelecom". www.fiercetelecom.com.
  4. ^ "Consolidated Communications Completes Divestiture of Virginia Properties - NASDAQ.com". NASDAQ.com. Retrieved August 22, 2018.
  5. ^ "Business Services | Consolidated Communications". www.consolidated.com. Retrieved January 25, 2018.
  6. ^ "Residential Services | Consolidated Communications". www.consolidated.com. Retrieved January 25, 2018.
  7. ^ "Investor FAQs - Consolidated Communications Holdings". ir.consolidated.com. Retrieved January 25, 2018.
  8. ^ "Richard Lumpkin Obituary (1935 - 2019) - Carmel Valley, Calif, CA - Chicago Tribune". Legacy.com. Retrieved December 12, 2023.
  9. ^ Keller, John (June 16, 1997). "McLeod to Expand Holdings With Phone Carrier Purchase". Wall Street Journal. ISSN 0099-9660. Retrieved January 15, 2020.
  10. ^ "Richard Anthony Lumpkin". Herald-Review.com. Retrieved January 15, 2020.
  11. ^ "Searchlight Capital Partners, L.P., on behalf of its affiliated investment funds and British Columbia Investment Management Corporation completed the acquisition of remaining 65.7% stake in Consolidated Communications Holdings, Inc. from Searchlight III CVL, L.P., managed by Searchlight Capital Partners, L.P., BlackRock, Inc., The Vanguard Group, Inc., Wildcat Capital Management, LLC and others". MarketScreener. Retrieved December 28, 2024.
  12. ^ Consolidated state locations
  13. ^ "CONSOLIDATED COMMUNICATIONS HOLDINGS INC". www.sec.gov. Retrieved January 25, 2018.
  14. ^ "Consolidated Communications Completes Acquisition of North Pittsburgh Systems, Inc. and Plans First Quarter 2008 Launch of IPTV Service in Pennsylvania (NASDAQ:CNSL)". ir.consolidated.com. Archived from the original on January 25, 2018. Retrieved January 25, 2018.
  15. ^ "Consolidated Communications Completes Acquisition of SureWest Communications (NASDAQ:CNSL)". ir.consolidated.com. Archived from the original on January 25, 2018. Retrieved January 25, 2018.
  16. ^ "Consolidated Communications Completes Acquisition of Enventis Corporation (NASDAQ:CNSL)". ir.consolidated.com. Archived from the original on January 26, 2018. Retrieved January 25, 2018.
  17. ^ "Consolidated Communications Completes Acquisition of Champaign Telephone Company (CTC) (NASDAQ:CNSL)". ir.consolidated.com. Archived from the original on January 25, 2018. Retrieved January 25, 2018.
  18. ^ "Consolidated Communications Completes FairPoint Acquisition (NASDAQ:CNSL)". ir.consolidated.com. Archived from the original on January 26, 2018. Retrieved January 25, 2018.
[edit]
  • Official website Edit this at Wikidata
    • Historical business data for Consolidated Communications:
    • SEC filings
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