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To: Diana R. Chambers who wrote (336)	3/12/1998 10:37:00 PM
From: MangoBoy	Respond to of 3873

<< Anschutz also a smart guy--is it true he owns 75% QWST? >> over 83%. mark

To: Diana R. Chambers who wrote (336)	3/13/1998 8:37:00 AM
From: Phil Jacobson	Read Replies (2) \| Respond to of 3873

Got the following off Hoovers...it's part of their QWST profile: Regards, Phil ------------------------------------------------------ Colorado's wealthiest individual, billionaire Philip Anschutz, owns about 87% of Qwest. The company was founded in 1988 when Anschutz bought Southern Pacific Rail (which also gave birth to long-distance carrier Sprint in the 1970s) and established the Southern Pacific Telecommunications Company (SPT) as a subsidiary. SPT began by laying fiber-optic cable along Southern Pacific's railroad rights-of-way for long-distance carriers, also providing carriers with long-distance capacity obtained through its construction contracts. In 1993 it was offering long-distance services to companies in the Southwest and began offering commercial services by selling switched services to businesses. In 1995 SPT acquired Qwest Communications Inc., giving it a digital microwave system covering areas its fiber-optic network didn't reach, and changed its own name to Qwest Communications. The next year Qwest announced it was building a nationwide, state-of-the-art fiber-optic network. The firm entered into construction contracts with Frontier, WorldCom, and GTE, which agreed to buy fiber installed by Qwest along its network, helping to largely defray Qwest's network construction costs. Anschutz sold Southern Pacific to Union Pacific in 1996 but held on to the telecom operation. In 1997 Qwest hired former head of AT&T's consumer and small-business division Joe Nacchio to run the company and also went public that year. Qwest said it would use its fiber-optic networks and Internet technology to begin offering some customers long-distance calls for 7.5 cents a minute in 1998. Also that year Qwest agreed to buy long-distance provider LCI for $4.4 billion, which will more than double its size.