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U S WEST, Inc. owns two major operating groups -U S WEST Communications Group andU S WEST Media Group. Since November of 1995, the groups have traded as distinct classes of "target" stock ofU S WEST, Inc. (Under target stock,U S WEST is one company with one balance sheet, one tax return and one board of directors, but with stocks tracking the financial performance of its two operating units.)On Oct. 27, 1997, U S WEST announced plans to split
U S WEST Media Group andU S WEST Communications Group into separate public companies by year-end 1998. As part of the split,U S WEST Dex will be transferred fromU S WEST Media Group toU S WEST Communications Group.U S WEST Dex is the company's Yellow pages and electronic directory business.A number of regulatory and other approvals are required before the split-off can proceed, including approval by both shareowner groups and a favorable ruling from the Internal Revenue Service.
The
U S WEST Communications Group provides telecommunications services to 25 million customers in 14 western and midwestern states: Arizona, Colorado, Idaho, Iowa, Nebraska, Minnesota, Montana, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming. (Ten of the nation's 15 fastest-growing cities are in theU S WEST territory.)The
U S WEST Media Group is a leading global media company. It operates domestic and international cable television and wireless telecommunications networks, publishes directories and develops and markets interactive multimedia services.
U S WEST is credited with a number of industry firsts and innovative steps to become a leader in global communications businesses. Some examples (in chronological order):
- In May 1993,
U S WEST and Time Warner Entertainment announced an alliance to provide information services, entertainment and telephone service over Time Warner cable systems in 29 markets across the United States, but outsideU S WEST's 14-state operating territory.
- On July 15, 1994,
U S WEST announced a $1.2 billion acquisition of cable television systems serving a large portion of the Atlanta, Ga., metropolitan area.
- On July 25, 1994,
U S WEST and AirTouch Communications announced a joint venture to combine their domestic cellular telephone operations to create the nation's third largest wireless phone company.
- On Oct. 20, 1994,
U S WEST /AirTouch Communications joined Bell Atlantic/NYNEX in a wireless consortium, called PrimeCo, representing 15 of the nation's top 20 cellular markets and 100 million potential customers (POPs). Through the FCC's auction process, which concluded in February 1995, this consortium won licenses for Personal Communications Services (PCS) in 11 major cities, covering 57 million POPs. (Licenses won include Chicago, Dallas, Miami, New Orleans, Honolulu and others.) The consortium's total wireless footprint -- cellular and wireless PCS services combined -- includes 26 of the nation's top cities, with 157 million total POPs.
- On Feb. 27, 1996, the
U S WEST Media Group announced a merger with Continental Cablevision, makingU S WEST the nation's third largest cable operator. The move strengthensU S WEST's position as a cable-industry leader and advances the company's long-stated strategy to provide broadband services in key local markets around the globe. The merger was completed Nov. 15, 1996. Today, the Media Group's domestic cable footprint is 16.2 million homes.U S WEST has access to another 13.9 million homes abroad.
- On April 17,
U S WEST announced it would merge its domestic cellular business, and its interest in PrimeCo Personal Communications, into AirTouch Communications. The proposed $5 billion tax-free transaction is subject to approval by several government agencies and byU S WEST Communications andU S WEST Media Group shareowners.U S WEST said the proposed merger is consistent with the intent of the July 1994U S WEST -AirTouch partnership agreement to create a single wireless company.
- On May 13,
U S WEST named its wholly-owned domestic cable properties "MediaOne." The new corporate identity covers the former Continental Cablevision andU S WEST's Atlanta-based cable systems (which had earlier adopted the MediaOne name in 1995.)
U S WEST, Inc., is headquartered in Englewood, Colo., a suburb of Denver. The company's total annual revenues approach $13 billion. The company has 69,000 employees.
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URL: http://www.uswest.com