America’s TV and telecom companies are on a buying spree; Verizon bought Yahoo and AOL, AT&T acquired Time Warner, and now CenturyLink, the third largest telecom in the US, has agreed to buy Level 3 Communications, a company dedicated to running the backbone of the Internet. Old school communications companies are under threat thanks to streaming services like Amazon and Netflix. Some Internet companies, like Amazon and Google, are even pushing into home Internet services. As a way of fighting back, telecom companies are buying up media that travels across these networks like TV shows and series’.
CenturyLink has decided to do something different. They’ve more or less accepted they’re losing consumer home internet subscribers, cord cutters, and fans of 5G wireless, so instead they are focusing on business services. This is where the company already makes most of its money. Both companies are profitable, but the author of this article compared the merger to “two old money families marrying their fortunes together in an effort to stave off death at the hands of new money interests.”