PND (7/25/2000) -- Qwest Communications Founder Philip Anschutz to Donate Stock to Foundation

Philip F. Anschutz, the founder of Qwest Communications International Inc., the broadband Internet communications company, will donate some 14 million shares of Qwest stock to the Denver-based Anschutz Foundation over the next five years, the Associated Press reports. The gift would be worth over $775 million, based on a July 14 closing price of $55.38.

According to documents filed with the U.S. Securities and Exchange Commission, the donations, which will begin in January, amount to roughly 4.6 percent of the 301.2 million shares Anschutz owns of the company. Qwest recently completed a merger with US West, making it the largest phone company in Colorado. Anschutz controls 18.4 percent of the combined companies, a holding worth approximately $16.7 billion.

The Anschutz Foundation pledged $25 million in January to the University of Colorado Health Sciences Center to help build a new medical center complex.

FCnote: Philip F. Anschutz is donor, chairman, and a director of The Anschutz Foundation (CO), which had assets of $199,983,856 and made grants totaling $2,673,000 in the fiscal year ending 11/30/98.

FCnote: Philip F. Anschutz is president and a director of the Anschutz Collection (CO), a non-grantmaking operating foundation that had assets of $25,115 in the fiscal year ending 11/30/98.

FCnote: Philip F. Anschutz is chairman and a director of The Oz Foundation, formerly known as The Sky's the Limit (CO), a non-grantmaking operating foundation that had assets of $349 in the year ending 11/30/98.

"Anschutz Gift Exceeds $775 Million." Associated Press in Denver Post 7/18/2000, Business section, p. C-02.

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