LITTLE ROCK, Ark., Aug. 30, 2013 (GLOBE NEWSWIRE) -- Windstream (Nasdaq:WIN) today announced it has formed Windstream Holdings, Inc., which will become a new publicly traded parent company of Windstream Corp. and its subsidiaries. The new company will trade on the Nasdaq Stock Exchange under the existing Windstream ticker symbol "WIN" beginning Sept. 3, 2013.
The new ownership design will enhance Windstream's corporate structure and provide greater financial and strategic flexibility in the future. In addition, the new structure mirrors that of other companies in the telecommunications industry.
Effective at 4 p.m. EDT today, existing shares of common stock of Windstream Corp. will convert into equivalent shares of Windstream Holdings, Inc. stock on a one-for-one basis. The conversion and exchange does not require any action by stockholders of Windstream.
The existing Windstream board of directors and officers will oversee both companies. There has been no change in Windstream's dividend practice as a result of the creation of the holding company.
Windstream (Nasdaq:WIN), a FORTUNE 500 and S&P 500 company, is a leading provider of advanced network communications, including cloud computing and managed services, to businesses nationwide. The company also offers broadband, phone and digital TV services to consumers primarily in rural areas. For more information, visit www.windstream.com.
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Certain statements contained in this press release may constitute forward-looking statements that are subject to uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. These forward-looking statements, including statements regarding Windstream's dividend practice, are based on estimates, projections, beliefs and assumptions that Windstream believes are reasonable but are not guarantees of future events and results. Actual future events and results of Windstream may differ materially from those expressed in these forward-looking statements as a result of a number of important factors, including those described in filings by Windstream with the Securities and Exchange Commission, which can be found at www.sec.gov.