Windstream 2007 Annual Report Download - page 48

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Windstream Corporation
Form 10-K, Part I
Item 1. Business
THE COMPANY
GENERAL
In this report, Windstream Corporation and its wholly owned subsidiaries are referred to as “Windstream”, “we”, or
“the Company”. Windstream is a corporation organized under the laws of the state of Delaware, and it was organized
under the name Valor Communications Group, Inc. (“Valor”) in 2004. For all periods prior to the merger with Valor
described herein, references to the Company include Alltel Holding Corp. or the wireline telecommunications division
and related businesses of Alltel Corporation (“Alltel”).
Windstream is one of the largest providers of telecommunications services in rural communities in the United States,
and based on the number of telephone lines in service, is the fifth largest local telephone company in the country.
Windstream has focused its communications business strategy on enhancing the value of its customer relationships by
offering additional products and services and providing superior customer service. The Company’s subsidiaries provide
local telephone, high-speed Internet, long distance, network access, and video services in sixteen states.
The following map reflects Windstream’s service territories.
The Company’s web site address is www.windstream.com. Windstream files with, or furnishes to, the Securities and
Exchange Commission (the “SEC”) annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports
on Form 8-K, as well as various other information. Windstream makes available free of charge through the Investor
Relations page of its web site its annual reports, quarterly reports, and current reports, and all amendments to any of
those reports, as soon as reasonably practicable after providing such reports to the SEC. In addition, on the corporate
governance section of the Investor Relations page of its web site, Windstream makes available its Code of Ethics, the
Board of Directors’ Amended and Restated Corporate Governance Board Guidelines, and the charters for its Audit,
Compensation, and Governance Committees. Windstream will provide to any stockholder a copy of the Governance
Board Guidelines and the Committee charters, without charge, upon written request to Investor Relations, Windstream
Corporation, 4001 Rodney Parham Road, Little Rock, Arkansas 72212.
FORMATION OF WINDSTREAM
On July 17, 2006, Alltel completed the spin off of its wireline telecommunications division, Alltel Holding Corp.
Pursuant to the spin off, Alltel contributed all of its wireline assets to the Company in exchange for: (i) newly issued
Company common stock, (ii) the payment of a special dividend to Alltel in the amount of $2.3 billion and (iii) the
distribution by the Company to Alltel of certain debt securities (the “Contribution”). In connection with the
Contribution, the Company assumed approximately $261.0 million of long-term debt that had been issued by the
Company’s wireline subsidiaries. Following the Contribution, Alltel distributed 100 percent of the common shares of
the Company to its shareholders as a tax-free dividend.
2