Qwest files for long distance, in final negotiation for publishing unit

Qwest Communications has filed an application with the FCC to provide long-distance service in Colorado, Idaho, Iowa, Nebraska and North Dakota.

During a conference call with investors today, Qwest Co-Chairman and CEO Joe Nacchio said the company also is in the final stages of negotiating the sales of its publishing unit.

The RBOC is the first to attempt a five-state filing with the FCC. However, Nacchio said Qwest is doesn’t anticipate the same type of fight at the federal level that other RBOCs have faced. Qwest also is the last of the four RBOCs to apply to the FCC for long-distance entry.

“We’re the only RBOC that agreed with its regulators and the FCC in advance to work the process of 271 as a single entity,” he said. “Our process in arriving to this milestone is fundamentally different than the other RBOCs.”

The company will file another five-state application with the FCC in the next 30 days. Qwest will apply for relief in the remaining three states throughout the third quarter.

In other news, Nacchio said final bids for the company’s publishing unit were expected on June 24. Though the company has publicly confirmed that initial bids were around $8 billion, it would not comment on reports that it was looking for a $1 billion upfront payment.

“We’ve seen some creative ideas,” Nacchio said.

Attempting to quash Wall Street rumors, Nacchio said the company has no plans to offer additional equity or equity-linked securities, particularly given the stock’s current low price.

--Vince Vittore, Executive News Editor