Dunkirk & Fredonia Telephone Company joins Lynch Corporation's Interactive Group.GREENWICH, Conn.--(BUSINESS WIRE)--Nov. 26, 1996--Lynch Corporation (AMEX AMEX See: American Stock Exchange :LGL LGL Legal (paper) LGL Large Granular Lymphocyte LGL Lown-Ganong-Levine Syndrome LGL Bayerischen Landesamtes für Gesundheit und Lebensmittelsicherheit LGL Luxair, Luxembourg (ICAO code) ) and Dunkirk & Fredonia Telephone have closed on their previously announced agreement whereby Dunkirk & Fredonia joins Lynch's Interactive Group. Dunkirk & Fredonia Telephone Company, previously a privately owned telephone company, and its subsidiaries Cassadaga Telephone Company, and Commantel, Inc. serve approximately 11,500 access lines in western New York
Western New York refers to the westernmost region of New York State. including the community of Fredonia, where a campus of the state university is located, the Village of Cassadaga and the Hamlet of Stockton. They also operate in other interactive avenues including long distance resale, sales and service of telecommunications equipment, security systems and Internet services. Robert A. Maytum, whose family has owned the company for 100 years, is President of Dunkirk & Fredonia, and his management team will continue to guide and grow the Company. This announcement comes on the heels of Lynch Corporation's announcement on Friday that a subsidiary has entered into an agreement with L.G. Matthews and his wife to acquire, subject to conditions, their 60% stock interest in Upper Peninsula Upper Peninsula Abbr. UP The northern part of Michigan between Lakes Superior and Michigan. It is separated from the Lower Peninsula by the Straits of Mackinac. Noun 1. Telephone Company, with the intent to acquire the remainder of the company. Upper Peninsula serves approximately 6,200 access lines located principally in the Upper Peninsula of the State of Michigan and also has cellular telephone interests. These transactions exemplify Lynch's policy of providing family-owned telephone companies with a customized transaction, giving them capital and management continuity. Pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma for the effects of both Dunkirk & Fredonia and Upper Peninsula Telephone, Lynch's total access lines would increase to approximately 35,000 in seven states, which will put it in the top 50 largest telephone companies in the United States. Lynch is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a with subsidiaries in multimedia, services and manufacturing, and actively seeks acquisitions, principally in existing business areas. CONTACT: Mario J. Gabelli 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. 203/629-3333 |
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