Chris Stansbury: It definitely will go to reducing leverage. And we’ve got a lot of flexibility under our agreements. And to how we use that. So we’re evaluating that now to see what the best use is. But it’s definitely going to be leverage reducing.
Batya Levi: Okay. Thank you.
Mike McCormack: Thanks Batya. Next question, operator?
Operator: The next question is from the line of Michael Rollins with Citi. Please proceed with your question.
Michael Rollins: Thanks, and good afternoon. Just curious, as you look at the opportunity to save customers by migrating them sooner to more strategic technology, can you give us a sizing of what that amount is in terms of the percent of revenue a quarter or year, just to get some sense on the quantum of opportunity? And then, if there’s other metrics that you could share on some of the progress, broadly across the entire customer stack, that would be great. Thanks.
Chris Stansbury: Yes, Mike, it’s Chris. I’ll take a shot at that. If you look at our harvest bucket, we said that, that was about 25% of the business segment. I’d say that’s the opportunity. I mean the reality is, those are products that we really no longer sell. There’s, very limited use cases where those legacy products are being sold. Quite frankly, we don’t compensate our sales force to sell those things because we’re focusing on next gen. So I think between what’s in harvest and then the VPN and Ethernet piece that’s in Nurture, you take those two pieces of the business, it’s about – it’s actually over 50% of what we sell today. That’s the opportunity set as we go forward. The harvest piece, the legacy voice obviously has, I would say, more movement in it. The VPN will take place over a longer period of time, but both of those, I think, would be good products.
Kate Johnson: And I think the big change, we’re always talking about, okay, what’s different. We funded a team to go after this business in a dedicated fashion. It’s no longer a hobby. It’s no longer an option. It’s how they get paid. We’ve given them all the tools and the playbooks to do so, and we’re starting to get some return from that.
Michael Rollins: Thanks.
Mike McCormack: Thanks, Mike. Operator, next question.
Operator: Yes, sir. The next question comes from the line of Greg Williams with TD Cowen & Company. Please proceed with your question.
Greg Williams: Sure. Thanks for taking my question. First one is just the idea of perhaps securitizing some debt. One of your peers frontiers in the midst of raising quite a bit by securitizing stabilized fiber homes and they can raise a ton of capacity on these ones solving their capital runway. As I think about your 2020 maturities, I’m wondering is this something you could explore? Or are there covenants or limitations that would preclude that? And then just the second question is on your copper subscribers in your mass market, you lost have 93,000 copper DSL subs. Is this just migration intentional by you guys or losing gross adds or fixed wireless pressure or maybe all of the pro. Just curious of the cadence from here? Thanks.
Chris Stansbury: Yes. So on the first one, it’s a great question. I mean, obviously, addressing our capital structure so that we can continue to support our strategy and the things that are working is paramount, and it’s something we’ve been focused on for some time. I would say that securitization is an option. There’s other options as well. I think some options are closer in, some options are further out. But as we go forward, I think figuring out ways to capitalize what is a very intensive investment in the consumer business is something that we’ve got to explore and we are exploring. As it relates to the copper subs, the reality is, is that a lot of our quantum builds is really in markets where we don’t have a lot of copper subscription remaining. So our best guess is that this is really being driven by some pressure from fixed wireless, which is not unanticipated.
