Windstream like Zayo, the Duopoly and every other telco and cable company, is chasing Fiber-to-the-Tower (FTT or FTTT). According to Fierce, "about 60 percent of its FTTT sales have been is in its own markets where customers pay on a per Mbps basis." WIND makes $164M per quarter on FTT.
WIND CEO says, "We're getting better and better at this and we're going to spend $250 million on fiber to the tower projects." A lot of those millions are construction dollars - shovel ready if you will ;).
"Although Windstream's wholesale revenues declined 12 percent, to $214 million, a factor the telco attributed the decline to a decision in the first quarter to suspend and modify certain wholesale products it inherited from its acquisition of PAETEC, Fiber to the Tower (FTTT) was a growth engine for its wholesale business."
Wholesale revenues declining is becoming a trend. These figures will be propped up with stuff like FTTT.