Post: CenturyTel shareholders will benefit from Embarq deal

“It is extremely attractive spectrum; we think it’s valuable because of its characteristics,” he said. CenturyTel has chosen long-term evolution as its 4G wireless technology and expects to begin a rollout toward the end of 2009 or in 2010, Post said.

Many details of the deal have not yet been finalized, such as the name of the new company, which will be based in Monroe, La., CenturyTel’s home. Tom Gerke, CEO of Embarq, will be the executive vice chairman of the new firm, while Karen Puckett and Stewart Ewing, both of CenturyTel, retain their chief operating officer and chief financial officer titles, respectively.

Gerke said he and Post would adopt a “best athlete” approach to building their team from existing CenturyTel and Embarq employees.

Both Post and Gerke acknowledged concern about the upcoming FCC meeting — at which new intercarrier compensation rules and possibly new Universal Service Fund structures will be discussed — because the current FCC proposals could dramatically change how small and rural telcos are compensated.

Because of the lengthy approval process for such changes — and likely legal challenges — Gerke said it didn’t make sense to postpone the deal.