The rumors have become a reality for CenturyLink. They will purchase Level 3 Communications for around $34 billion, which will be split between stock and cash. This will create a more competitive company with the ability to compete with AT&T.
The acquisition will allow CenturyLink to handle larger amounts of internet traffic and will add some very large providers to the company. Level 3 is a massive provider of internet services and includes clients, such as Google and Netflix.