Cincinnati Bell Inc. (NYSE:CBB) announced today that Cincinnati Bell
Telephone Company LLC and the Communications Workers of America (CWA)
have reached a tentative agreement on a new 27-month labor contract.
The negotiated agreement, which extends through November 12, 2016,
replaces the current three-year agreement that expires at 11:59 p.m. on
Saturday, August 9, 2014.
"We are pleased to reach agreement on a new labor contract with the
CWA," said Ted Torbeck, president and chief executive officer of
Cincinnati Bell. "We believe the new agreement reflects the best
interests of our customers, employees, and shareholders."
The new contract provides for compensation increases and enhancement of
Commenting on the tentative agreement, Linda Hinton, vice president of
CWA District 4, said "I am pleased that we were able to reach a
tentative agreement with Cincinnati Bell Telephone."
A detailed summary of the new agreement will be sent to each employee
and details will be posted on the CWA's website in the coming days.
CWA members of Local 4400 will vote on ratification of this agreement.
The ratification vote is expected sometime in September and will be by
mail ballot. The CWA represents approximately 850 employees of
Cincinnati Bell Telephone.
About Cincinnati Bell Inc.
With headquarters in Cincinnati, Ohio, Cincinnati Bell (NYSE: CBB)
provides integrated communications solutions - including local and long
dstance voice, data, high-speed internet, video and wireless services -
that keep residential and business customers in Greater Cincinnati and
Dayton connected with each other and with the world. In addition,
enterprise customers across the United States rely on CBTS, a
wholly-owned subsidiary, for efficient, scalable office communications
systems and end-to-end IT solutions. Cincinnati Bell owns approximately
44% of CyrusOne (NASDAQ: CONE), which provides best-in-class data center
colocation services to enterprise customers through its facilities with
fully redundant power and cooling solutions that are currently located
in the Midwest, Texas, Arizona, London and Singapore. For more
information, please visit www.cincinnatibell.com.
Safe Harbor Note
This release and the documents incorporated by reference herein contain
forward-looking statements regarding future events and our future
results that are subject to the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. All statements, other than
statements of historical facts, are statements that could be deemed
forward-looking statements. These statements are based on current
expectations, estimates, forecasts, and projections about the industries
in which we operate and the beliefs and assumptions of our management.
Words such as "expects," "anticipates," "predicts," "projects,"
"intends," "plans," "believes," "seeks," "estimates," "continues,"
"endeavors," "strives," "may," variations of such words and similar
expressions are intended to identify such forward-looking statements. In
addition, any statements that refer to projections of our future
financial performance, our anticipated growth and trends in our
businesses, and other characterizations of future events or
circumstances are forward-looking statements. Readers are cautioned
these forward-looking statements are based on current expectations and
assumptions that are subject to risks and uncertainties, which could
cause our actual results to differ materially and adversely from those
reflected in the forward-looking statements. Factors that could cause or
contribute to such differences include, but are not limited to, those
discussed in this release and those discussed in other documents we file
with the Securities and Exchange Commission (SEC). More information on
potential risks and uncertainties is available in our recent filings
with the SEC, including Cincinnati Bell's Form 10-K report, Form 10-Q
reports and Form 8-K reports. Actual results may differ materially and
adversely from those expressed in any forward-looking statements. We
undertake no obligation to revise or update any forward-looking
statements for any reason.
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