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Lumen Technologies Stock Surges 12% on Pac-12 Broadcasting Deal
Lumen Technologies Stock Surges 12% on Pac-12 Broadcasting Deal
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BTCCSquare news:
Lumen Technologies (LUMN) shares rallied more than 12% Wednesday after announcing a partnership with Pac-12 Enterprises to broadcast college football games using its network-as-a-service technology. The telecom stock's leap dwarfed the broader market's 0.2% gain as investors cheered the high-profile client win.
The collaboration begins with Saturday's Washington State-Idaho game, though financial terms remain undisclosed. While revenue impact isn't quantified, the deal demonstrates Lumen's capability to serve demanding media clients—a potential springboard for similar contracts in live sports broadcasting.
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