Business Services Industry
Oklahoma-Based Cell Phone Service Provider Sells Some Operations to Verizon.
Knight Ridder/Tribune Business News, February, 2002
By Rick Robinson, The Daily Oklahoman Knight Ridder/Tribune Business News
Feb. 12--Dobson Communications Corp. has finished selling rural cellular phone operations in four states.
The properties -- FCC licenses and related cellular service areas in California, northern Georgia, northern Ohio and east Tennessee -- went to Verizon Wireless for about $465 million.
Dobson will get $364 million of the total sale amount, which it will use to reduce its $2.5 billion total debt. The other $101 million will go to reduce the debt of a business partner.
The Oklahoma City-based cellular service provider announced the Verizon deal late last year.
"The sale of these properties results in a network footprint for Dobson that is both...
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