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Telecommunications firm Zayo Group has agreed to buy CenturyTel Inc.’s business Internet and phone services in Fort Wayne and four other markets for an undisclosed sum, Zayo Group announced Wednesday.
CenturyTel employs 17 workers in Fort Wayne; Akron, Ohio; Toledo; and Lansing and Ann Arbor, Mich., company spokeswoman Annmarie Sartor said. Those employees will be able to interview with Louisville, Colo.-based Zayo for jobs. CenturyTel will identify positions within the company for workers who choose to stay, she said.
Monroe, La.-based CenturyTel has about 700 business customers in the five markets, Sartor said. Their contracts will transfer to Zayo. The sale is expected to close in the third quarter.
Best Buy ended its year with a 3 percent drop in its fourth-quarter earnings as the nation’s largest consumer electronics retailer suffered from a weaker economy.
The company earned $737 million in the last three months of the fiscal year, better than analysts expected.
Richfield, Minn.-based Best Buy said it made $1.71 a share for the quarter, versus $763 million, or $1.55 per share, during the same period last year. (Even though profits fell, earnings per share rose because there were fewer shares outstanding after a repurchase last year.) Analysts polled by Thomson Financial expected a smaller $1.65 per share profit.
Former Enron Corp. CEO Jeffrey Skilling, convicted for his role in the once mighty energy giant’s collapse, took risks when he ran the company but they were always for its benefit, his attorney told a three-judge panel of the 5th U.S. Circuit Court of Appeals.
But prosecutors argued Skilling’s actions were dishonest and contrary to the needs of the company’s shareholders and its financial stability.
The appeals court was not expected to rule Wednesday on Skilling’s appeal to have his conviction overturned.
