As the boundaries of telecommunications blur, there is a field of bankers who help carriers define themselves through acquisitions, spinoffs, restructurings and other deals. Much of the activity centers on fiber systems, data centers, smartphones, wireless broadband networks, online content and video. Still, some of the largest recent deals include combinations of incumbent landline phone companies.

The list of deal advisers below includes bulge-bracket and middle-market institutions. Some may view cable and telecom as distinct industry segments, while others have a more ecumenical view of communications. This directory expands upon the original, published last year, but does not attempt to definitively catalog such a fluid industry.

Bank of America Merrill Lynch

Mark Bush, Ben Braun, Chris Cormier, Mandar Donde, Jim McVeigh, Kate Brown, John Harrison, Ted Niedermayer, Andy Tauber

Advised Comcast Corp. on the acquisition of a controlling stake in NBC Universal Inc.; Portugal Telecom SGPS on the sale of its stake in Vivo SA to Telefónica SA; Cablevision Systems Corp. on the spinoff of Madison Square Garden LP; Windstream Corp. on the acquisition of Iowa Telecommunications Services Inc.; Cablevision on its acquisition of Bresnan Communications LLC; Windstream on the acquisition of Q-Comm Corp.; and Paetec Holding Corp. on its acquisition of Cavalier Telephone LLC. Bookrunner on initial public offerings of Quinstreet Inc. and ReachLocal Inc.

Bank Street Group LLC

James Henry, Peter Beckett, Paul Vasilopoulos

Advised Windstream on the purchase of Hosted Solutions LLC; Lexent Metro Connect on its sale to Lightower Fiber Networks; and Arbinet Corp. on its sale to Primus Telecommunications Inc.

Barclays Capital

Jack Callaway, Bill Cohen, Barry Boniface, Gordon Kroft, Joe Valenti, Ricardo Zubieta

Advised Verizon Communications Inc. on the sale of its rural operations in 14 states to Frontier Communications Corp.; Bharti Airtel Ltd. on the acquisition of Zain Africa BV; CenturyLink Inc. on its pending acquisition of Qwest Communications International Inc.; Vivendi SA on the sale of its NBC Universal stake; Centennial Communications Corp. on its sale to AT&T Inc.; Global Tel*Link on the acquisition of Aircell LLC's cellular towers in India; Essar Telecom Infrastructure Pvt. Ltd. on the sale of its Indian towers to American Tower Corp.; Telecom Italia SpA on the sale of its German Hansenet subsidiary to Telefónica; GVT (Holding) SA on its sale to Vivendi; CenturyTel Inc. on its merger with Embarq Corp.; Sprint Nextel Corp. on its strategic investment in Clearwire Corp.

Citigroup Inc.

Eric Medow, James McCummings, Dyson Dryden, Rosanne Kurmaniak, Jesse Davis

Advised Citigroup Capital Partners Japan on the sale of Bellsystem24 Inc. to Bain Capital LLC; Sprint Nextel on the purchase of iPCS Inc.; General Electric Co. on the sale of its NBCU stake; Frontier Communications on its merger with Verizon Communications' rural operations; TPG Capital and Goldman Sachs Capital Partners on the sale of Alltel Corp. to Verizon Wireless; Sprint Nextel on the merger of its WiMax operations with Clearwire; TPG on the leveraged buyout of Alltel; BellSouth Corp.'s merger with AT&T; Sprint's merger with Nextel; BCE Inc. on the sale of its Telesat Canada Inc. satellite communications unit to Loral Space & Communications Inc. and the Public Sector Pension Investment Board; AAT Communications Corp. on its sale to SBA Communications Corp.; and American Tower on its acquisition of SpectraSite Inc.

Credit Suisse Group

Bill Raincsuk, John Trousdale, Bill Bradley, Scott Simpson

Advised D&E Communications Inc. on its sale to Windstream; ViaSat Inc. on the purchase of WildBlue Communications Inc.; Intelsat Ltd. on its sale to BC Partners Ltd.; and Knology Inc. on the purchase of PrairieWave Communications Inc.

Deutsche Bank AG

Prem Parameswaran, Don Birchenough, Mohit Pande

Advised Qwest on its merger with CenturyLink; Advised RCN Corp. on its sale to Abry Partners LLC; Switch and Data Facilities Co. on its sale to Equinix Inc.; Virgin Mobile USA LLC on its sale to Sprint Nextel; Integra Telecom Inc. on the purchase of Eschelon Telecom Inc.; McLeodUSA Inc. on its sale to Paetec; RCN on the purchase of Neon Communications Group Inc.; and T-Mobile USA Inc. on its purchase of SunCom Wireless Holdings Inc.

Evercore Partners Inc.

Roger Altman, Qazi Fazal, Saul Goodman, Jonathan Knee, Daniel Mendelow, Eduardo Mestre, Naveen Nataraj, Michael Price, David Ying

Advised Carlyle Group on its acquisition of Syniverse Technologies Inc.; ITC^DeltaCom Inc. on its sale to EarthLink Inc.; Cavalier Telephone LLC on its sale to Paetec; nTelos Holdings Corp. on its acquisition of One Communication Corp.'s FiberNet business; CenturyLink on its merger with Qwest; Frontier Communications on merger with Verizon rural operations; Sirius XM Radio Inc. on its investment from Liberty Media Corp.; Centennial Communications on its sale to AT&T; and Iridium Holdings LLC on its sale to GHL Acquisition Corp.

Goldman, Sachs & Co.

Michael Ronen, Greg Lee, Simon Holden, Gene Sykes, Peter Gross

Advised Telx Group Inc. and Skype Ltd. on their pending IPOs; Windstream on the purchase of Iowa Telecommunications; Liberty Entertainment Inc. on its merger with DirecTV Group Inc.; eBay Inc. on its sale of Skype; Liberty Global Inc. in its purchase of Unitymedia GmbH; TPG and Goldman Sachs Capital on their sale of Alltel to Verizon Wireless; Leap Wireless International Inc. on the review of MetroPCS' hostile bid; SunCom Wireless on its sale to T-Mobile USA; BellSouth on its merger with AT&T; and Nextel on its merger with Sprint.

Guggenheim Partners LLC

Alan Schwartz, H. Andrew Decker, James Ferency, Eric Rutkoske, Hans Toro, Mark Van Lith, Derek Ahmann

Advised Cablevision on its purchase of Bresnan Communications and the spinoff of Madison Square Garden; and advised Liberty Entertainment on merger with DirecTV.

Jefferies & Co.

Jason Gredell, Michael Herbst, Alex Kelloff

Advised RigNet Inc. on its initial public offering; DuPont Fabros Technology Inc. on its equity and preferred offerings; Securus Technology Inc. on a credit facility; Integra Telecom on a debt financing; Covad Communications Group Inc. on secured credit facilities; noteholders of FairPoint Communications Inc. on a restructuring; iBasis Inc.'s special committee on its sale to Royal KPN NV; Jazz Telecom SAU on its restructuring; noteholders in Wind Hellas Telecommunications SA's restructuring; Eschelon Telecom on its sale to Integra Telecom; and McLeodUSA in its sale to Paetec.

J.P. Morgan

Fred Turpin, Kurt Simon, Jennifer Nason, Philip Konieczny, Surajit Datta, Gopi Vaddi, Andrew Verdasca

Advised CenturyLink on its merger with Qwest; Verizon Communications in its merger of rural operations with Frontier; Equinix on its acquisition of Switch & Data; Iowa Telecom on its sale to Windstream; General Electric on the sale of its NBCU stake; Silver Lake, Index Ventures, Andreessen Horowitz and Canada Pension Plan Investment Board on their purchase of a Skype stake; Embarq on the CenturyTel merger; Alltel on its LBO by TPG and Goldman Sachs Capital; and Verizon Wireless on its purchase of Rural Cellular Corp. Completed lead managed financing mandates for Intelsat Corp., MetroPCS, Frontier, Clearwire, GeoEye Inc., Integra Telecom, nTelos, Alaska Communications Systems Group Inc. and Trilogy International Partners LLC.

Lazard

George "Woody" Young, Marc Katz, Ajay Yadav, Louis Zachary, Anne Hamilton

Advised Qwest on its merger with CenturyLink; Shenandoah Telecommunications Co. on its acquisition of Jet Broadband; NII Holdings Inc. on its proposed investment by Grupo Televisa SA in Nextel Mexico; R.H. Donnelley Corp. on its restructuring; Hawaiian Telcom Communications Inc. on its restructuring; Local Insight Media Holdings Inc. on its restructuring; EchoStar Corp. on its restructuring of Terrestar Networks Inc.; and Telstra Corp. on its initial public offering of SouFun Holdings Ltd.

Moelis & Co.

Andrew Haber, Stanley Holtz, Hervé Malausséna

Advised Nextwave Wireless Inc. on its sale of PacketVideo to NTT DoCoMo Inc.; bondholders of Fairpoint Communications Inc. on restructuring; NextDC Ltd. on its initial public offering; Cleveland Unlimited Inc. on the sale of its minority stake in LCW Wireless Operations LLC to Leap Wireless; noteholders of Wind Hellas on its restructuring; and Nextwave Wireless on its restructuring.

Morgan Stanley

Stuart Epstein, Adam Shepard, Max Herrnstein

Qwest on its merger with CenturyLink; DirecTV on the merger with Liberty Entertainment; Comcast on its purchase of an NBC Universal stake; Rockwood Capital and 365 Main Inc. on the sale of a data center portfolio to Digital Realty Trust Inc.; iPCS on its sale to Sprint Nextel; Verizon Wireless on the Alltel acquisition; Verizon Wireless on the sale of Divestiture Properties to AT&T; CenturyTel on its merger with Embarq; Clearwire in its merger with Sprint Nextel's WiMax unit; Berkshire Partners LLC's acquisition of SkillSoft Ireland Ltd.; and MSCI Inc.'s acquisition of RiskMetrics Group Inc.

RBC Capital Markets

Nick Stevenson, Brian Deevy, Brad Busse, David Parker, Randy Wells, Don Bechter, Bob Allison

Advised Inmarsat plc on its acquisition of Segovia Inc.; ViaWest Inc. on its sale to Oak Hill Capital Partners and GI Partners; Q-Comm on its sale to Windstream; Sunflower Broadband on its sale to Knology; Switch and Data in its sale to Equinix; and Carlyle Group on its acquisition of stakes in Completel Europe NV and NC Numericable SA.

Stephens Inc.

Kenny Gunderman, Chad Crank, Matt Dement

Advised Windstream on acquisitions of Q-Comm, Kentucky Data Link and Norlight Inc.; Windstream's acquisition of Hosted Solutions; Windstream's divestiture of CT Wireless Inc.; Birch Internet Services Inc.'s acquisition of Navigator Telecommunications LLC; Racal Acoustics Group Ltd. on its sale to Esterline Technologies Corp.; Windstream on the purchases of D&E Communications, Iowa Telecommunications, Lexcom Inc. and CT Communications Inc.; Airspan Networks Inc. on its sale to Oak Investment Partners; Conterra Ultra Broadband Holdings Inc. on a minority sale to Goldman Sachs; Alltel on its LBO by TPG and Goldman Sachs Capital; and Windstream on its directories divestiture.

Stifel, Nicolaus & Co.

Frank Gallagher, Aaron Hill, John Hendon, Adam Chewning, Anwar Gorham

Advised Telephone and Data Systems Inc. on the acquisition of Visi Inc.; Iowa Telecommunications on the acquisition of Sherburne Tele Systems Inc.; CC Communications in its wireless sale to Atlantic Tele-Network Inc.; Lakedale Communications on its sale to Iowa Telecommunications; Hutchinson Telephone Co. in its sale to New Ulm Telecom Inc.; and Northern PCS Services LLC in a sale to Sprint Nextel. Underwrote DuPont Fabros Technology Inc.'s follow-on common stock offering and preferred stock offering; and Iridium Communications Inc.'s initial public offering.

UBS Investment Bank

Aryeh Bourkoff, Jonathan Herbst, Omar Jaffrey, Sam Powers, Ehren Stenzler

Advised Bresnan Communications on its sale to Cablevision; Silver Lake and Warburg Pincus on the acquisition of Interactive Data Corp.; Comcast on its NBCU stake; Virgin Media Inc. on the sale of Virgin Media TV; KDDI Corp. on its strategic equity participation in Jupiter Telecommunications Co. Ltd.; Zain Group on the pending sale of a controlling stake to Emirates Telecommunications Corp.; iPCS on its sale to Sprint Nextel; Harbinger Capital Partners' acquisition of SkyTerra Communications Inc.; Unitymedia GmbH on its sale to Liberty Global; bondholders in Charter Communications Inc.'s bankruptcy; Liberty Media on Sirius XM stake; Vodafone plc on Verizon Wireless' acquisition of Alltel; and Google Inc. on its Clearwire investment.

Waller Capital Partners LLC

Garrett Baker, Jeffrey Brandon, Steve Soraparu, Brian Stengel

Advised Q-Comm's Norlight subsidiary on its sale to Windstream; Shenandoah Telecommunications on the purchase of Cable Systems from Suddenlink Communications; Baja Broadband LLC on its sale of noncore assets to Satview Broadband Ltd.; Motionbox Inc. on its sale to Hewlett-Packard Co.'s Snapfish; Isolation Network Inc.'s INgrooves on an equity investment from Shamrock Capital Advisors; RCN on its sale to Abry Partners; Grande Communications Networks LLC on its sale to Abry Partners; Time Warner Cable Inc. on the sale of cable systems to Windjammer Communications LLC; NY3G Partnership in a sale of spectrum to Sprint Nextel; Everest Broadband in a sale to SureWest Communications Inc.; and WideOpenWest Holdings LLC on a sale to Avista Capital Partners.

Wells Fargo Securities LLC

Alan Mitchell, James Broner, Vartan Aznavoorian, Battle Moore, Sharif Metwalli, Gaurav Baveja

Advised NuVox Inc. on its sale to Windstream; Sprint Nextel on the purchase of Virgin Mobile USA; CenturyTel on the Embarq merger; Consolidated Communications Inc. on the acquisition of North Pittsburgh Systems Inc.; Sprint Nextel on the sale of wireless towers to TowerCo LLC; and Cincinnati Bell Inc. on a tower sale to American Tower.