CenturyTel Wins Bid to Acquire Digital Teleport for $38 Million.Business Editors ST. LOUIS & MONROE, La.--(BUSINESS WIRE)--Feb. 13, 2003 Digital Teleport Inc. and CenturyTel Inc. (NYSE NYSE See: New York Stock Exchange :CTL See control key. 1. CTL - Checkout Test language. 2. CTL - Compiler Target Language. 3. CTL - Computational Tree Logic ) today announced that a federal bankruptcy court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. has approved CenturyTel's $38 million bid to acquire the assets of the regional fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. . "This acquisition is a natural extension of our clustering strategy in rural and small-to-mid-sized city markets," said Glen F. Post, III, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CenturyTel. "Digital Teleport's regional fiber network will help CenturyTel reduce or eliminate existing network costs from other transport providers and pursue additional revenue opportunities. "The DTI Diffusion tensor imaging (DTI) A refinement of magnetic resonance imaging that allows the doctor to measure the flow of water and track the pathways of white matter in the brain. employees have achieved impressive results during the re-organization process. We look forward to having them join CenturyTel," Post said. "We couldn't be happier with the results," said Paul Pierron, president and CEO of Digital Teleport. "CenturyTel's purchase should eliminate any remaining concerns that our customers, suppliers and employees may have about the long-term financial stability and future of Digital Teleport. "CenturyTel is a prudent and respected company with strong fundamentals and operating principles that mirror Digital Teleport's values and that will enable this business to realize its full growth potential," Pierron said. "The transaction will be transparent to our customers." Under terms of the asset sale approved late Thursday afternoon by Judge Barry S. Schermer, of the U. S. Bankruptcy Court for the Eastern District of Missouri in St. Louis, CenturyTel will assume all existing contracts with customers and with most suppliers. The transaction is expected to be completed during the second quarter of 2003. About CenturyTel CenturyTel, Inc. provides communications services including local, long distance, Internet access and data services to more than 3 million customers in 22 states. The company, headquartered in Monroe, Louisiana, is publicly traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol CTL, and is included in the S&P 500 Index. CenturyTel is the 8th largest local exchange telephone company, based on access lines, in the United States. The company's Web site is www.centurytel.com. About Digital Teleport Digital Teleport provides wholesale fiber optic transport services in secondary and tertiary Midwest markets to national and regional telecommunications carriers. The company's network spans 5,700 route miles across Arkansas, Illinois, Iowa, Kansas, Missouri, Nebraska, Oklahoma and Tennessee. Digital Teleport also provides fiber optic communications services to enterprise customers and government agencies in St. Louis' premier office buildings. The company's Web site is www.digitalteleport.com. Telephone: 1-314-880-1000. |
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