TDS AND CENTURY ANNOUNCE FIVE TRANSACTIONS
TDS AND CENTURY ANNOUNCE FIVE TRANSACTIONS CHICAGO, May 14 /PRNewswire/ -- Telephone and Data Systems, Inc.
(AMEX: TDS) and Century Telephone Enterprises, Inc. (NYSE: CTL) announced today that they have agreed in principle to five separate transactions.
TDS will acquire 100 percent of Mid-America Telephone, Inc., in Stonewall, Okla., from Universal Telephone, Inc., a subsidiary of Century. Mid-America has approximately 1,475 access lines and provides telephone service for a portion of Oklahoma Rural Service Area (RSA) Number 9, where United States Cellular Corp. owns and operates the nonwireline cellular system. TDS will acquire 100 percent of Wyandotte Telephone Company in Wyandotte, Okla., from Century. Wyandotte has approximately 525 access lines and serves an area near TDS's existing telephone operations in Oklahoma. TDS will acquire 100 percent of two other cellular entities from Universal Telephone, Inc. The two cellular entities own non- controlling, wireline cellular interests representing a total of 37,000 pops (the portion of the total population based on ownership interest), in other cellular operations in which TDS affiliates already own interests. Century will acquire 100 percent of the Alexandria, La., Metropolitan Statistical Area (MSA) wireline cellular system from United States Cellular Corp. (AMEX: USM), an 81.6 percent owned subsidiary of TDS. The Alexandria MSA has a population of 149,082 (1990 Final U.S. Census) and is contiguous to Century's cellular operations in northern and central Louisiana. "These five transactions demonstrate the commitment of TDS and its affiliates to provide the finest in total communications services and the continuing efforts of TDS and its affiliates to cluster cellular and telephone operations," said LeRoy T. Carlson, chairman of TDS. "Our agreement with TDS represents a positive step for both companies to consolidate operations, improve service and provide greater efficiencies," said Glen F. Post III, president and chief executive officer of Century. "The purchase of the Alexandria cellular system will enable us to expand our cellular coverage across central Louisiana and add an important area to our regional cellular operations." The companies expect to complete the transactions as definitive agreements are completed and after all regulatory approvals are obtained. TDS is a diversified Chicago-based communications service company with established local telephone operations and developing cellular telephone and radio paging operations. With the completion of Mid America, Wyandotte and three other pending acquisitions, TDS will provide telephone service in 29 states, with over 315,000 access lines. TDS is the 17th largest telephone holding company in the United States. At March 31, 1992, United States Cellular Corp. owned or had rights to acquire interests in 72 MSAs and 102 RSAs, representing approximately 18 million population equivalents. United States Cellular is the ninth largest cellular operator in the United States in terms of population equivalents. Century Telephone Enterprises, Inc., headquartered in Monroe, La., is a diversified telecommunications company with operations in 16 states and is the 15th largest local exchange telephone company and the 15th largest cellular operator in the United States. -0- 5/14/92 /CONTACT: Murray L. Swanson of TDS, 312-630-1900, or Bob Fudickar of Century, 318-388-9648/ (TDS CTL) CO: Telephone and Data Systems, Inc.; Century Telephone Enterprises, Inc. ST: Illinois, Louisiana IN: TLS SU: TNM
SM -- NY108 -- 0454 05/14/92 16:57 EDT
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|Date:||May 14, 1992|
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