According to an article over on Tallahassee, in an agreement announced on Thursday, CenturyLink will acquire Qwest Communications is a tax free stock swap which will create the 3rd largest provider of landline phone service in the United States.

After acquiring Emberg last year, CenturyLink is now the predominant service provider in Tallahassee and has stated that the transaction is valued at $10.6 billion and will assume Qwest debt of $11.8 billion.

Qwest Communications delivers phone, satellite TV, high speed internet services, and wireless services via Verizon, and CenturyLink and Qwest together will hold markets in 37 states, 17 million access lines and roughly 5 million broadband customers.

Carmen Butler, a spokesperson for CenturyLink has said that the transaction should take affect next year; however impact on local customers is unknown at this time, and of said merger commented, “We are looking forward to it.”