Vegas executives enthusiastic about new investment

Tuesday, Dec. 11, 2001 | 10:47 a.m.

Las Vegas executives of XO Communications say the investment of millions of dollars by turnaround specialist Forstmann Little is good news for local customers.

"The potential of $800 million in new investment provides a fully funded business plan, significantly reduces XO's debt and engages two strategic partners who understand XO's opportunity and believe in XO's continued ability to perform well operationally," said Joe Brondon, general manager of XO Nevada.

"This, in addition to the current $1 billion of funding XO has as of Sept. 30, also ensures our customers will receive the same quality level of service they've come to expect," he said in a statement. "From a Las Vegas market perspective, we have had an extremely successful 2001 and as a result we continue to expand our sales force and our network infrastructure."

XO, which has been in the Las Vegas market for four years, the first three as NextLink Communications, has 135 local employees. The company has four Southern Nevada locations, including its Henderson headquarters at 2240 Corporate Circle Drive.

Spokeswoman Kristi Becker said that for competitive reasons, the company does not disclose the number of customers or the number of lines it has installed in the Las Vegas area.