Published:
SureWest Communications Completes Sale of Wireless Assets to Verizon Wireless
SureWest Communications Completes Sale of Wireless Assets to Verizon Wireless
ROSEVILLE, Calif., May 9 /PRNewswire-FirstCall/ -- Leading independent
communications holding company SureWest Communications (Nasdaq: SURW)
announced today that it has completed the previously announced sale of the
operating assets of its Wireless business to Verizon Wireless for an aggregate
cash purchase price of $69.0 million. Under the agreement, Verizon Wireless
is acquiring the spectrum licenses and operating assets of SureWest Wireless,
excluding SureWest's more than 50-owned communication towers. The company
expects to use $30 million of the net cash proceeds of the Wireless sale to
repay a certain amount of its current outstanding debt facilities and the
remaining balance to continue to fund the expansion of its broadband network.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050908/SFSUREWESTLOGO)
About SureWest Communications SureWest Communications
(http://www.surewest.com) is one of the nation's leading integrated
communications providers and is the bandwidth leader in the markets it serves
under the SureWest and Everest brands. Headquartered inNorthern California
for more than 90 years, SureWest's bundled residential and commercial
offerings include an array of advanced IP-based digital video, high-speed
Internet, local and long distance telephone, and wireless PCS. Its
fiber-to-the-premise IP-based network features high-definition video and
symmetrical Internet speeds of up to 50 Mbps. In the greaterKansas City
region, Everest (http://www.everestkc.com) is a network-based residential and
commercial provider of voice, digital video and high-speed Internet services.
Contact: Ron Rogers
Media Relations
916-746-3123
r.rogers@surewest.com
SOURCE SureWest Communications
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Tags: Computers and Electronics, VOIP, Phones and Telecommunications, Banking and Finance, High Tech, california, kansas
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