Level 3 Signs Agreement to Sell Advertising Distribution Business for $129 Million

BROOMFIELD, Colo., December 19, 2007 - Level 3 Communications, Inc. (Nasdaq: LVLT) today announced that it has signed a definitive agreement to sell the advertising distribution business of Vyvx LLC to DG FastChannel, Inc. Vyvx, LLC is a wholly owned subsidiary of Level 3 Communications, LLC.

Under the terms of the agreement, Level 3 will receive total consideration of $129 million payable in cash at closing. The purchase price is subject to customary working capital and certain other post-closing adjustments. Revenue and Adjusted EBITDA for the Vyvx Services Advertising Distribution Business for 2007 are expected to be approximately $36 million and $11 million, respectively.

Source: Level 3 Signs Agreement to Sell Advertising Distribution Business for $129 Million - Level 3 Press Release