Colorado’s two biggest telecom employers have combined into one company.

CenturyLink Inc. completed its $24 billion stock-and-cash acquisition of Broomfield-based Level 3 Communications on Wednesday morning.

The merger turns Monroe, Louisiana-based local phone and internet business CenturyLink (NYSE: CTL) into a company that makes most of its money providing data and network services to business and internet companies around the world.

The deal, valued at $34 billion when debt is included, was announced a year ago and cleared its final federal regulatory hurdle -- approval by the Federal Communications Commission -- on Monday.

The deal means one less corporate headquarters in Colorado and one less Fortune 500 company.

Read more at the Denver Business Journal: