OKLAHOMA CITY, Feb. 11, 2002 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) announced that two of its subsidiaries have completed the sale of four FCC licenses and related operations in California, Georgia, Ohio and Tennessee to Verizon Wireless for approximately $465 million.
Dobson intends to use its share of the net proceeds from the sales to reduce debt.
"The sale of these properties results in a network footprint for Dobson that is both more concentrated, and thus more efficient to operate, and more focused on the roaming needs of our two largest roaming partners," said Everett Dobson, chairman and chief executive officer.
The following wireless properties are involved in the transaction:
-- California RSA #7 includes Imperial County, serving Brawley,
Calexico, Calipatria and Imperial. POPS served by the license
total approximately 147,000.
-- Georgia RSA #1 includes eight counties in Northern Georgia,
including Fannin, Gilmer, Gordon, Murray, Pickens, Towns, Union
and Whitfield. POPS served by the license total approximately
250,000.
-- Ohio RSA #2 includes four counties in northern Ohio: Erie, Huron,
Sandusky and Seneca. POPS served by the license total
approximately 260,000.
-- Tennessee RSA #4 includes six counties in Eastern Tennessee:
Cocke, Grainger, Greene, Hamblen, Jefferson and Sevier. POPS
served by the license total approximately 290,000. TN RSA #4 is
the property of the American Cellular joint venture that is
equally owned by Dobson and AT&T Wireless (NYSE:AWE).
Within the next 30 days, Dobson plans to complete the sale to Verizon Wireless of its interest in the partnership that owns Arizona RSA #5. The license includes approximately 200,000 POPs in Gila and Pinal counties, Ariz. Dobson was represented by Daniels & Associates, L.P. in the sale of the five properties.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns or manages wireless operations in 17 states. Dobson has expanded rapidly in recent years through internal growth and by acquisition. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.