Lumen Technologies, Inc. (LUMN) TD Cowen 53rd Annual Technology, Media & Telecom Conference - (Transcript)

Core Insights - Lumen Technologies has announced a unique deal structure with AT&T, which is described as a first of its kind and potentially the last of its kind in the industry [3]. Group 1: Deal Structure and Strategy - The deal was structured to focus on the value of fiber for the consumer side, which is seen as the go-forward strategy and a key asset of interest for buyers [3]. - The company retains a significant number of wire centers for its enterprise business, which will allow for direct connections to the cloud [3]. - The footprint of the retained assets generates substantial enterprise EBITDA, along with healthy consumer copper EBITDA from rural areas that are unlikely to see fiber development in the near future [3].