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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 1999
U S WEST, Inc.
(Formerly "USW-C, Inc.")
(Exact name of registrant as specified in its charter)
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A Delaware Corporation Commission File IRS Employer Identification
(State of Incorporation) Number 1-14087 No. 84-0953188
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1801 California Street, Denver, Colorado 80202
(Address of principal executive offices, including Zip Code)
Telephone Number (303) 672-2700
(Registrant's telephone number, including area code)
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Item 5. Other Events
On January 15, 1998, U S WEST, Inc. issued a press release entitled
"U S WEST to Sell 500,000 Access Lines". The press release is attached hereto
as Exhibit 99.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release issued January 15, 1999
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
U S WEST, Inc.
(Formerly "USW-C, Inc.")
By: /s/ Thomas O. McGimpsey
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Thomas O. McGimpsey
Assistant Secretary
Dated: January 15, 1999
EXHIBIT 99
U S WEST, Inc.
1801 California Street
Denver, CO 80202
News Release [U S WEST Logo]
Release Date: Friday, January 15, 1999
Contact: David Beigie, (303) 896-5528
Emily Harrison, (303) 965-3235
U S WEST to sell 500,000 access lines
DENVER -- U S WEST today announced plans to sell approximately 500,000 access
lines - about three percent of its total 16.5 million lines. The sale is part of
U S WEST's plan to increase its investment in new technologies and services for
customers across its region. A purchase agreement is expected to be reached by
late April. The sales should be final in 12-18 months, pending state and federal
regulatory review.
The company plans to offer a portion of its access lines, central office and
outside plant equipment in 10 of its 14 states, including Arizona, Colorado,
Iowa, Idaho, Minnesota, Montana, North Dakota, South Dakota, Nebraska and
Wyoming. Over the next several weeks, detailed information will be distributed
to qualified companies with the financial strength, expertise and experience to
operate telecommunications networks. U S WEST has retained Lehman Brothers as
its exclusive financial advisor with respect to the sales.
"We will be looking at companies that have the financial and operational ability
to provide high-quality telecommunications services - including the ability to
provide the advanced services that customers are demanding," said Betsy Bernard,
executive vice president, Retail Markets, U S WEST. "In most cases, these
companies will be able to offer a full range of services, including
long-distance, to meet customers' desire for one-stop shopping. This offering
also will help U S WEST increase our investments in innovative technologies and
services to better meet the needs of our customers. It will be a `win-win' for
communications consumers throughout our region."
U S WEST (NYSE:USW) provides a full range of telecommunications services --
including wireline, wireless PCS, data networking, directory and information
services -- to more than 25 million customers nationally and in 14 western and
midwestern states. More information about U S WEST can be found on the Internet
at http://www.uswest.com.
[Safe Harbor Statement: This document contains statements about expected future
events and financial results that are forward-looking and subject to risks and
uncertainties. For these statements, we claim the safe harbor for
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Factors that could cause actual results to differ
from expectations include: (i) greater than anticipated competition from new
entrants into the local exchange, intraLATA toll, wireless, data and directories
markets, causing loss of customers and increased price; (ii) changes in demand
for U S WEST's products and services, including optional custom calling
features; (iii) higher than anticipated employee levels, capital expenditures
and operating expenses (such as costs associated with year 2000 remediation);
(iv) the loss of significant customers; (v) pending and future state and federal
regulatory changes affecting the telecommunications industry, including changes
that could have an impact on the competitive environment in the local exchange
market; (vi) a change in economic conditions in the various markets served by U
S WEST's operations; (vii) higher than anticipated start-up costs associated
with new business opportunities; (viii) delays in U S WEST's ability to begin
offering interLATA long-distance services; (ix) consumer acceptance of broadband
services, including telephony, data and wireless services; and (x) delays in the
development of anticipated technologies, or the failure of such technologies to
perform according to expectations. These cautionary statements by the Company
should not be construed as exhaustive or as any admission regarding the adequacy
of disclosures made by the Company. The Company cannot always predict or
determine after the fact what factors would cause actual results to differ
materially from those indicated by the forward-looking statements or other
statements. In addition, readers are urged to consider statements that include
the terms "believes", "belief", "expects", "plans", "objectives", "anticipates",
"intends", or the like to be uncertain and forward-looking. All cautionary
statements should be read as being applicable to all forward-looking statements
wherever they appear. U S WEST does not undertake any obligation to publicly
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.]
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