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Uniti and Windstream Obtain All Necessary Regulatory Approvals to Complete Merger
Globenewswire· 2025-07-24 21:00
Core Viewpoint - Uniti Group Inc. and Windstream have received regulatory approval for their merger, expected to close around August 1, 2025, following prior approvals and stockholder consent [2][4]. Group 1: Merger Details - The merger will result in Uniti becoming an indirect, wholly owned subsidiary of Windstream Parent, Inc., which will be renamed "Uniti Group Inc." [4]. - The common stock of the newly formed Uniti Group Inc. is anticipated to be listed on the Nasdaq Global Market under the symbol "UNIT" starting around August 4, 2025 [4]. Group 2: Management Commentary - The CEO of Uniti expressed excitement about the merger, highlighting its potential to create a leading fiber provider and enhance connectivity for businesses and communities [3]. Group 3: Tax Implications - The merger is expected to be a taxable transaction for Uniti's stockholders, and the company has received a favorable private letter ruling from the IRS regarding certain tax consequences, which may lead to a step-up in the tax basis of some assets post-merger [5]. Group 4: Company Overview - Uniti is a real estate investment trust focused on acquiring and constructing critical communications infrastructure, owning approximately 147,000 fiber route miles and 8.8 million fiber strand miles across the U.S. as of March 31, 2025 [6].
Uniti Appoints John Harrobin President of Kinetic
Globenewswire· 2025-04-23 20:15
Company Overview - Uniti Group Inc. announced the appointment of John Harrobin as President of Kinetic, effective after the merger with Windstream Holdings II, LLC, expected in the second half of 2025 [1] - Uniti is a real estate investment trust focused on acquiring and constructing communications infrastructure, owning approximately 145,000 fiber route miles and 8.8 million fiber strand miles across the U.S. as of December 31, 2024 [6] Leadership Appointment - John Harrobin previously served as Executive Vice President, Consumer, at Frontier Communications, leading a $3 billion business unit and achieving customer, revenue, and profit growth [2] - Harrobin's experience includes roles at Audible and Verizon Wireless, where he was involved in significant growth and marketing strategies [4] Strategic Focus - The company sees significant potential in the Kinetic platform, which is viewed as an attractive asset with strong fundamentals and growth opportunities [3] - Harrobin's immediate focus will be on enhancing customer service and building a durable operating model to deliver superior results [3]