Business Services Industry
Investors urge TDS split: Michael Price, Gabelli and Chums target family execs at telecom laggard. (breakup of Telephone & Data Systems Inc. holdings proposed)
Crain's Chicago Business, January, 1997 by Cahill, Joseph B.
Mutual fund strongman Michael Price and other big shareholders are pressing for the breakup of Telephone & Data Systems Inc. Incensed by a stock trading at a five-year low, holders of more than one-third of the Chicago-based telecommunications company's common stock want the company to break apart its three most promising holdings - TDS Telecommunications Corp., U.S.
Cellular Corp. and Aerial Communications Inc. - and sell its beleaguered American Paging Inc. subsidiary. Already, representatives of Mr. Price and others have held tense meetings with Telephone & Data Systems (TDS) founder and Chairman LeRoy T. Carlson and his son, CEO LeRoy T. "Ted" Carlson Jr. And shareholders have submitted proxy proposals to loosen the Carlson family's control of the company....
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