Source: Zayo Press Release

Zayo Group executed a definitive agreement to acquire Seattle-based 360networks holdings (USA) inc., a provider of fiber network and telecom services.  The acquisition combines highly complementary assets – Zayo’s deep metropolitan fiber networks across 60 US metropolitan markets and 360networks’ unique intercity fiber network spanning the central and western United States. 360networks will be the largest of the 17 acquisitions made by Zayo since its inception in 2007.  

360networks operates over 18,500 route miles of intercity and metro fiber network across 22 states and British Columbia. 360networks’ intercity network interconnects over 70 markets across the central and western United States, including 24 Zayo fiber markets and a number of new markets such as Albuquerque, Bismarck, Des Moines, San Diego, San Francisco and Tucson.  In addition to its intercity network, 360networks operates over 800 route miles of metropolitan fiber networks across 25 markets, including Seattle, Denver, Colorado Springs, Omaha, Sacramento, and Salt Lake City.   The resulting combined fiber network will total over 42,000 route miles and nearly two million fiber miles.

Source: Level 3 Press Release

Level 3 Communications, Inc., (Nasdaq:LVLT) announced that it has completed its acquisition of Global Crossing Limited. The transaction was structured as a tax-free, stock-for-stock exchange. The company also announced that it will conduct its business on a worldwide basis using the Level 3 Communications name with a new brand identity that incorporates elements from both companies, representing their combined strengths.

In addition, the company announced plans to transfer the listing of its common stock to the New York Stock Exchange, and expects to begin trading on the NYSE on Oct. 20, 2011, under its current ticker symbol "LVLT". The company will continue to trade on the NASDAQ Global Select Market until the transfer is completed. In conjunction with listing on NYSE, the company will affect a 1-for-15 reverse stock split of the Level 3 common stock.

Level 3 now will operate a services platform for medium to large enterprise, wholesale, content and government customers, anchored by extensive owned fiber networks on three continents in more than 45 countries as well as substantial undersea facilities.