After losing bid for MCI, Qwest looks outside industry

It's been a year since Verizon beat Qwest in the acquisition of MCI, and now Qwest says it's finally ready to start looking again. The company says it's also looking outside of telecom, and there's talk of acquiring a cable company. CEO Richard Notebaert cautioned that his company isn't "going on some buying binge." He also reiterated that Qwest has the luxury of being patient and disciplined about it. The company is still recovering from an accounting scandal from several years ago that forced it to restate billions in revenue. Notebaert said Qwest could turn profitable this year.

For more on Qwest's strategy:
- read this article from the Wall Street Journal (sub. req.)