McLeodUSA sells Illinois local exchange business
McLeodUSA today announced it has sold Illinois Consolidated Telephone Co. to Homebase Acquisition Corp. for $271 million.
Industry News
Blogs
Briefing Room
advertisement
The central Illinois incumbent carrier was one of the first properties McLeod put on the auction block when it entered its pre-packaged bankruptcy earlier this year to pay off its loan debt, bringing its debt load to $715 million. The sale of ICTC returns the ILEC to its former owner, as Homebase is the new company formed by Richard Lumpkin, ICTC’s President and CEO and former vice-chairman of McLeodUSA. Lumpkin sold ICT and its 39-state directory publishing business to McLeodUSA in 1997 in a stock and cash deal valued at $420 million. McLeodUSA sold its consolidated directory publishing businesses to the Yell Group in April for $600 million.
Based in Mattoon, Ill., ICTC is the state’s fifth-largest incumbent carrier with 90,000 access lines and 4000 DSL subscribers. The deal is subject to regulatory approval, but McLeodUSA officials expect to close the sale by the end of 2002.
--Kevin Fitchard, Staff Writer
Want to use this article? Click here for options!
© 2012 Penton Media Inc.
advertisement
Learning Library
Webcasts
Using Real-Time Offers, Alerts and Interactions To Improve the Mobile Broadband Experience
In this Webinar you will learn how to create a real-time relationship with your customers, how to proactively improve the customer experience, and how to successfully target and cross-sell services to boost incremental revenue.
- Megabytes to Megabucks, Bandwidth to Business Models: How 4G Is Changing Everything
- How to Unplug Your Redundant Telco Apps To Save Money and Improve Efficiency
- When IaaS Isn't Enough: Service Provider Business Models to Drive Growth and Build Margin
- How to Transform Your Aging Telco Voice Network to Drive New Profits and Revenue
- Creative Licensing Approaches for Telcos & Their Network Equipment Vendors
- Smart Home Opportunity: Balancing Customer Data & Privacy
White Papers
The Role of Diameter in All-IP, Service-Oriented Networks
This paper discusses the rise of Diameter and benefits of Diameter Protocol.
- Conducting The Orchestration – Order Management at the Speed of Business
- Toward a Converged Network Edge
- Beyond Spam – Email Security in the Age of Blended Threats
- 6 Important Steps to Evaluating a Web Filtering Solution
- The Expertise to Protect You from Botnet and DDoS Attacks
- Seeing is Believing – Bridging the Order Visibility Gap
Featured Content
A time and money saving approach to fiber deployment
Service providers are under tremendous pressure to turn up new services faster then before and, at the same time,
to do it at less expense - and intra-office fiber is one of the biggest challenges in terms of both cost and service
turn-up.
Stay Connected
of interest
The Latest
News
From the Blog
Briefingroom
Join the Discussion
advertisement
Resources
Get more out of Connected Planet by visiting our related resources below:
Connected Planet highlights the next generation of service providers, as well as how their customers use services in new ways.
Subscribe Now