Printer Friendly

PACIFIC TELECOM COMPLETES CELLULAR TRANSACTIONS

 PACIFIC TELECOM COMPLETES CELLULAR TRANSACTIONS
 VANCOUVER, Wash., Jan. 3 /PRNewswire/ -- Pacific Telecom Inc. (PTI) (NASDAQ: PTCM) announced today that it has completed two transactions involving cellular properties in Colorado and Michigan. These transactions are part of a program through which PTI is consolidating or exchanging cellular properties to obtain efficiencies in operation and ownership control.
 In the first transaction, PTI sold a wholly owned subsidiary, which is a minority partner in four cellular rural service areas (RSAs) in Colorado, to the U S WEST NewVector Group for $5.6 million in cash.
 In the second transaction, PTI purchased 100 percent of the ownership interest in the wireline franchises for RSA No. 1 and No. 2 in northern Michigan for $15.6 million in cash. These franchised areas are adjacent to other rural and urban cellular properties in Wisconsin which are operated as a regional network by PTI. The cell sites for serving these new areas have not yet been constructed. PTI expects to introduce service in these areas in 1992 and provide switching through its existing switch in Appleton, Wis.
 As the result of these transactions, PTI recognized a net increase in its pro-rata share of POPs (population equivalents) in the cellular markets in which it has ownership interests. PTI acquired approximately 316,000 POPs in the Michigan acquisition while it lost 95,000 pro-rata POPs in the Colorado sale. With the completion of these transactions, PTI has approximately 1.8 million pro-rata POPs.
 Pacific Telecom Inc. is a PacifiCorp (NYSE: PPW) company.
 -0- 1/3/92
 /CONTACT: B.M. Wirkkala, or J.H. Huesgen of Pacific Telecom Inc., 206-696-0983/
 (PTCM PPW) CO: Pacific Telecom Inc. ST: Washington, Colorado, Michigan IN: TLS SU: TNM


LM-JH -- SE003 -- 6541 01/03/92 15:00 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 3, 1992
Words:293
Previous Article:CRUM AND FORSTER SELLS FLOYD WEST & COMPANY
Next Article:FOOD LION INC. DECLARES CASH DIVIDEND
Topics:


Related Articles
PACIFIC TELECOM TO MERGE SUBSIDIARY WITH CASCO TELEPHONE
Pacific Telecom, Inc. to Sell Substantially All of its Cellular Holdings
Millicom International Cellular S.A. Announces Sale of its Cellular Interest in Delhi, India.
SBC Communications Announces Plans to Acquire Comcast Cellular Corporation.
CommNet Stockholders Approve Merger.
Openet Telecom Signs Rural Cellular to Mediation Contract; Rural Cellular to Deploy Openet's FusionWorks Wireless Mediation Platform.
U.S. Cellular and TDS Telecom to Sell Wireless Assets to ALLTEL.
U.S. Cellular and TDS Telecom Complete Sale of Wireless Assets to ALLTEL.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters