Lumen stock is trading lower Thursday after the company announced the sale of its consumer fiber-to-the-home business.

Lumen Technologies, Inc. pivoted with a $5.75B asset sale to AT&T, debt reduction, better valuation, & AI-driven growth in fiber & cloud. Click for my LUMN update.

AT&T has agreed to acquire CenturyLink and Quantum Fiber's fiber internet business in 11 states, including Oregon, for $5.75 billion, and hopes to double its availability by the end of 2030.

Lumen Technologies, the Colorado internet giant better known by many as CenturyLink, is selling its residential business to AT&T. AT&T will gain 1 million internet customers from the $5.75 billion acquisition, the company said in a statement. It will expand its reach in metro areas in 11 states, including Denver, according to the statement.

B purchase of Lumen's (NYSE:LUMN) consumer fiber business as "a positive" and "strategically aligned." The transaction will benefit both parties as it boosts the U.S. telecom giant's fiber footprint and reduces debt and creates a leaner business structure for the smaller rival.

Ashley Haynes-Gaspar currently works at Lumen Technologies, Inc. (Louisiana), as Chief Revenue Officer & Executive Vice President from 2024. Ms. Haynes-Gaspar received her undergraduate degree from the University of Florida.

Snowflake posts better-than-expected earnings and issues guidance ahead of analysts’ estimates, while shares of Lumen Technologies soar as AT&T will buy Lumen’s mass markets fiber business for $5.75 billion.

After the transaction, Dallas-based AT&T will own roughly 95% of Quantum Fiber, an all-fiber residential internet service.