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Level 3's IP Network Used in $46.6M California Central Valley Broadband Project (LVLT)Dec 19, 2011 (SmarTrend(R) News Watch via COMTEX) -- Level 3 Communications (NYSE:LVLT), the Central Valley Independent Network, or CVIN LLC, and the nonprofit Corporation for Education Network Initiatives in California, or CENIC, announced that Level 3's advanced IP network will serve as an important component in the Central Valley Next Generation Broadband Infrastructure project, a $66.6 million total cost project that is being partly funded with $46.6 million from the American Recovery and Reinvestment Act, or ARRA. The project will bring advanced communications to rural, underserved areas by creating a 1,300 mile, high-capacity fiber-based infrastructure throughout 18 counties in California's Central Valley. The project is a joint effort of the CVIN and the CENIC, and will utilize over 300-route miles of Level 3 infrastructure as part of the 18-county backbone network. The launch of the project's construction was celebrated earlier this month. "CENIC's goal has always been to connect its K-20 member institutions via robust and high-capacity fiber to the CalREN backbone so that the community that we were created to serve can enjoy all the benefits of advanced networking, and Level 3's network and support has been a valuable part of this effort," said Jim Dolgonas , president and CEO of CENIC. "Thanks to funding from ARRA and the California Advanced Service Fund (CASF) and the investment of CVIN's affiliates, we will be able to bring the benefits of advanced communications technology to the people in the underserved Central Valley region." Level 3 Communications (NYSE:LVLT) has potential upside of 78.5% based on a current price of $17.61 and an average consensus analyst price target of $31.43. Level 3 Communications is currently below its 50-day moving average (MA) of $21.81 and below its 200-day MA of $26.20. In the last five trading sessions, the 50-day MA has fallen 2.12% while the 200-day MA has slid 0.28%. Level 3 Communications, Inc. provides telecommunications and information services, including local, long distance, and data transmission. The Company also provides other enhanced communications and Internet services, and is involved in coal mining businesses. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |