Qwest a ZillionTV investor.

The Denver Post

February 25, 2010

Qwest said Wednesday that last year it made a "very small, or immaterial, investment" in ZillionTV, a startup developing Internet-based video-on- demand service.

Multichannel News reported that Qwest invested $10 million in ZillionTV, which last year delayed its commercial launch until the second half of 2010.

In a separate announcement, Qwest said it will launch a tender offer to buy back $1.2 billion worth of debt maturing in 2010 and 2011.

The tender offer by the company's Qwest Capital Funding subsidiary is for $402.9 million in notes due 2010 carrying an interest rate of 7.9 percent and $801 million in notes maturing in 2011 paying an interest rate of 7.25 percent.