Centennial Communications Closes Sale of Its Southwest Properties.Business Editors NEPTUNE Neptune, in Roman religion and mythology Neptune, in Roman religion and mythology, god of water. He was presumably an indigenous god of fertility, but in later times he was identified with the Greek Poseidon, god of the sea. , N.J.--(BUSINESS WIRE)--Nov. 16, 2000 Centennial Communications Centennial Communications (NASDAQ: CYCL) and its subsidiaries (Centennial Wireless (U.S.), Centennial Dominicana and Centennial de Puerto Rico) provide wireless and broadband telecommunications services to wireless telephone subscribers in the United States, Puerto Rico, the Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CYCL) today announced that it has closed the previously announced sale of its Southwest properties to Western Wireless for $202,500,000 cash. Centennial's Southwest properties consist of rural service areas (RSA's) in and around Yuma, Arizona Yuma is a city in and the county seatGR6 of Yuma County, Arizona, United States. According to 2005 Census Bureau estimates, the population of the city is 84,688. (Arizona 4) and Imperial, California Imperial is a city in Imperial County, California. As of the 2000 census, the city had a population of 8,100. It is part of the 'El Centro, California Metropolitan Statistical Area'. Geography Imperial is located at (32. (California 7) representing approximately 300,000 Pops and approximately 20,000 cellular subscribers. The Southwest properties also include paging and SMR (Specialized Mobile Radio) The communications services used by police, ambulances, taxicabs, trucks and other delivery vehicles. Throughout the U.S., approximately 3,000 independent operators are licensed by the FCC to offer this service, which provides always-on operations. "We wish our employees in the Southwest region continued success and thank them for their dedicated and outstanding service to Centennial. We intend to reinvest the proceeds in our larger domestic and Caribbean clusters," said Michael J. Small, Centennial's president and chief executive officer. Centennial is one of the largest independent wireless telecommunications service providers in the United States and the Caribbean with approximately 18.7 million Net Pops and over 664,000 wireless subscribers. Centennial's Domestic operations have approximately 6.3 million Net Pops in small cities and rural areas. Centennial's Caribbean integrated communications operation owns and operates wireless licenses for 11.4 million Net Pops in Puerto Rico, the Dominican Republic, Jamaica and the U.S. Virgin Islands, and provides voice, data and Internet services on wireline networks in the region. Centennial also holds minority shares representing approximately 910,000 Net Pops in U.S. cellular operations controlled and managed by other operators. Welsh, Carson, Anderson & Stowe and an affiliate of The Blackstone Group are controlling shareholders of Centennial. For more information regarding Centennial, please visit our website at www.centennialcom.com. Cautionary statement for purposes of the "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provision of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Information in this release that involves Centennial's expectations, beliefs, hopes, plans, projections, estimates, intentions or strategies regarding the future are forward-looking statements that involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to Centennial as of the date of the release, and we assume no obligation to update or revise any such forward-looking statements. These statements are not guarantees of future performance, and actual results could differ materially from our current expectations. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion