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August 13, 2018

Unions ratify three-year contracts with Consolidated Communications

About Consolidated Communications

Consolidated Communications Holdings Inc. (NASDAQ: CNSL) is a leading broadband and business communications provider serving consumers, businesses of all sizes, and wireless companies and carriers, across a 23-state service area. Leveraging its advanced fiber optic network spanning more than 36,000 fiber route miles, Consolidated Communications offers a wide range of communications solutions, including: internet, data, phone, security, managed services, cloud services and wholesale, carrier solutions. Its headquarters are in Mattoon, Ill.

Two unions representing approximately 1,200 workers in Maine, New Hampshire and Vermont announced Friday that their members had approved the three-year contract with Consolidated Communications that received preliminary approval on Aug. 4.

It's the first labor agreement reached by the Illinois-based Consolidated Communications Holdings Inc. since its acquisition of FairPoint Communications Inc. a year ago in a $1.3 billion all-stock transaction.

The three-year contract went into effect immediately and will run through Aug. 7, 2021.

After four months of often contentious bargaining, leaders of the Communications Workers of America and the International Brotherhood of Electrical Workers said in a news release that, although they did agree to some concessions, the agreements maintain "high-quality affordable health care, provide enhanced retirement benefits through a new 401K savings plan and protect many local jobs for the life of the agreements."

"We're very pleased our employees ratified these new agreements, which enable us to better serve and support our customers by having increased flexibility to speed the delivery and support of services," said Bob Udell, president and chief executive officer at Consolidated Communications. "The new agreements also enable us to better manage our costs as a sustainable, long-term business."

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