The $10-billion CenturyLink and Qwest merger was officially approved by shareholders today. In this takeover, “Qwest shareholders will own 49.5 percent of the new company, while CenturyLink shareholders will own 50.5 percent.” Video after the break.

CenturyLink, the fifth-biggest local phone company in the U.S. is buying Qwest, the third-biggest, as both struggle with the decline of landline phone use in favor of cell phones.

[via NYtimes]