Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
PETERSON MARK W
   2. Issuer Name and Ticker or Trading Symbol
CINCINNATI BELL INC [CBB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
VP & Treasurer
(Last)
(First)
(Middle)
221 EAST FOURTH STREET		 3. Date of Earliest Transaction (Month/Day/Year)
12/08/2006
(Street)

CINCINNATI, OH 45202		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               7,009.8401 D  
Preferred Stock               500 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Buy (1) $ 22.375             03/31/2000 03/31/2009 Common Stock 15,000   15,000 D  
Option to Buy (1) $ 22.25             01/04/2002 01/04/2009 Common Stock 400   400 D  
Option to Buy (1) $ 16.7813             09/17/2001 09/17/2009 Common Stock 25,000   25,000 D  
Option to Buy (1) $ 35.9688             01/03/2001 01/03/2010 Common Stock 15,000   15,000 D  
Option to Buy (1) $ 22.8438             01/02/2002 01/02/2011 Common Stock 10,000   10,000 D  
Option to Buy (1) $ 9.645             12/04/2002 12/04/2011 Common Stock 12,500   12,500 D  
Option to Buy (1) $ 4.125             03/20/2004 03/20/2013 Common Stock 35,000   35,000 D  
Option to Buy (1) $ 5.655             12/04/2004 12/04/2013 Common Stock 18,000   18,000 D  
Option to Buy (1) $ 3.7             12/03/2005 12/03/2014 Common Stock 7,500   7,500 D  
Option to Buy (1) $ 3.86             05/20/2006 05/20/2015 Common Stock 20,000   20,000 D  
Option to Buy (1) $ 4.22             10/24/2006 10/24/2015 Common Stock 40,000   40,000 D  
Option to Buy (1) $ 3.995             12/01/2005(2) 12/01/2015 Common Stock 20,000   20,000 D  
Option to Buy (1) $ 4.735 12/08/2006   A   20,000   12/08/2007(3) 12/08/2016 Common Stock 20,000 (4) 20,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
PETERSON MARK W
221 EAST FOURTH STREET
CINCINNATI, OH 45202		       VP & Treasurer  

Signatures

 Christopher J. Wilson by Power of Attorney for Mark W. Peterson   12/11/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Option shares granted under the 1997 Long Term Incentive Plan which is a Rule 16b-3 Plan.
(2) Options vest upon grant. Options granted on December 1, 2005 are fully vested upon grant. Shares purchased upon exercise of such options are subject to sale restrictions until the reporting person terminates employment with the Company as follows: 28% of shares purchased may be sold on or after December 1, 2006. Thereafter, an additional 3% of shares purchased per month for the remaining 24 months may be sold. Options expire ten years from grant date.
(3) Options have a 3 year vesting schedule: 28% one year from grant date and 3% for each of the remaining 24 months.
(4) Reporting person will pay option price at time of exercise.

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