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MOBILEMEDIA COMMUNICATIONS FILES REGISTRATION STATEMENT FOR PROPOSED OFFERING OF SENIOR SUBORDINATED DEFERRED COUPON NOTES

 RIDGEFIELD PARK, N.J., Nov. 11 /PRNewswire/ -- MobileMedia Corporation ("MobileMedia") announced that its wholly-owned subsidiary, MobileMedia Communications, Inc. ("MobileMedia Communications"), filed a Registration Statement with the Securities and Exchange Commission on Nov. 8, 1993, covering Senior Subordinated Deferred Coupon Notes due 2003 (the "Notes"), which are expected to result in proceeds to MobileMedia Communications of approximately $125 million, before deducting the underwriting discount and offering expenses.
 MobileMedia and MobileMedia Communications have been formed by Local Area Telecommunications, Inc. ("Locate") to effect the acquisition of Metromedia Paging Services, Inc. ("Metromedia Paging") from Southwestern Bell Corporation. In connection with the acquisition, Metromedia Paging will be renamed "MobileMedia Communications, Inc." (the "Company").
 The Company is the second largest provider of paging services in the United States based on the number of pagers in service. Through its 35 offices, the Company provides paging and other wireless services in 19 states and the District of Columbia, including nine of the ten largest metropolitan markets in the United States. As of Sept. 30, 1993, the Company had 1,188,002 pagers in service.
 The net proceeds of the Notes offering, together with the Hellman & Friedman investment and the anticipated initial borrowing under a revolving credit facility, each as described below, will be used by MobileMedia Communications to fund the acquisition of Metromedia Paging and to pay expenses incurred in connection with such acquisition. It is expected that MobileMedia Communications will enter into a $100 million revolving credit facility with The Chase Manhattan Bank, N.A. and certain other financial institutions, $50 million of which is expected to be borrowed initially in connection with the acquisition. In addition, MobileMedia has entered into a stock purchase agreement pursuant to which Hellman & Friedman Capital Partners II, L.P., H&F Orchard Partners, L.P. and H&F International Partners, L.P. have agreed to purchase MobileMedia Class A Common Stock for an aggregate purchase price of $150 million.
 A Registration Statement relating to the Notes has been filed with the Securities and Exchange Commission but has not yet become effective. The Notes may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A preliminary prospectus relating to the Notes may be obtained from Donaldson, Lufkin & Jenrette Securities Corporation, the lead manager for the Notes offering, or from BT Securities Corporation or Bear, Stearns & Co. Inc., the co-managers.
 -0- 11/11/93
 /CONTACT: R. Craig Roos of MobileMedia Corporation, 212-509-5115


or Jack Bunce of Hellman & Friedman, 415-788-5111/

CO: MobileMedia Corporation ST: New Jersey IN: TLS SU: OFR

WB -- NY038 -- 3220 11/11/93 12:18 EST
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Publication:PR Newswire
Date:Nov 11, 1993
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