{"id":18118,"date":"2020-09-22T14:33:06","date_gmt":"2020-09-22T18:33:06","guid":{"rendered":"https:\/\/blog.tmcnet.com\/blog\/rich-tehrani\/?p=18118"},"modified":"2022-10-14T18:26:36","modified_gmt":"2022-10-14T22:26:36","slug":"windstream-restructure-complete","status":"publish","type":"post","link":"https:\/\/blog.tmcnet.com\/blog\/rich-tehrani\/unified-communications\/windstream-restructure-complete.html","title":{"rendered":"Windstream Restructure Complete"},"content":{"rendered":"\n

Windstream <\/a>has been saddled with a massive amount of debt for many years and as it struggled to pay it down, it faced declining revenues and margins in its legacy businesses. To offset this challenge, they focused on high-value and higher-margin solutions. We told you about this last April when we reported on their one billion in DIP funding from CIT global<\/a>. <\/p>\n\n\n\n

To boost sales of the higher-margin solutions they announced at the time that resellers would receive a 5% premium on certain services such as UCaaS, SD-WAN call center and security. <\/p>\n\n\n\n

Since that time, the company continued to innovate – boosting its SD-WAN business<\/a> with better analytics, visibility, etc. They added Slack integration<\/a> and Office UC upgrades<\/a> as well. Finally, this past June, they added live chat<\/a> to their OfficeSuite UC Contact Center solution.<\/p>\n\n\n\n

\"Windstream
Windstream President & CEO Tony Thomas (Photo Credit: Karen E. Segrave) <\/figcaption><\/figure><\/div>\n\n\n\n

The company has successfully completed its financial restructuring process as a privately held company and has reduced its debt by more than $4 billion, or approximately two-thirds, and now has access to approximately $2 billion in new capital. With an enhanced capital structure, Windstream is now well-positioned to continue making substantial network and software investments, fuel sustainable growth and drive value for all its stakeholders.<\/p>\n\n\n\n

\u201cToday marks the start of a new\nera for Windstream as an even stronger, more competitive company,\u201d said Tony\nThomas, president and chief executive officer of Windstream. \u201cWith the\ncompletion of our financial restructuring, we now have an enhanced balance\nsheet and a robust capital investment program to expand 1 Gig Internet service\nin rural America and maintain our product and software leadership in SD-WAN and\nUCaaS for enterprise customers. We are also pleased to continue our strategic\npartnership with Uniti Group and expand our mutually beneficial relationship.\nWith the support of our new owners and current operational momentum, Windstream\nwill continue advancing our long-term growth objectives while providing our\ncustomers with quality and reliable services.\u201d<\/p>\n\n\n\n

Thomas continued, \u201cI would like to thank our customers, vendors and business partners for their ongoing support throughout this process. I would also like to extend my deepest gratitude to the Windstream team for their dedication to our customers and continued commitment to delivering essential telecommunications services during this unprecedented healthcare crisis.\u201d<\/p>\n\n\n\n

Paul Sunu, chairman of the new Windstream Board of Directors, said, \u201cTony and the Windstream team have made significant strides in the last 18 months to better position the company to compete for the long term. The new Board and I are confident that we have the right management team and right strategy to accelerate Windstream\u2019s transformation, return to growth and drive sustainable value creation.\u201d<\/p>\n\n\n\n

Windstream also today unveiled a new corporate logo, marking the next chapter in the company\u2019s transformative journey.<\/p>\n\n\n\n

Windstream also today unveiled a new corporate logo and will continue to support its customers across the U.S. with:<\/p>\n\n\n\n