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American Cellular, a subsidiary of Dobson, has agreed to purchase Highland
May 11, 2006
OKLAHOMA CITY -- American Cellular Corporation, a subsidiary of Dobson Communications Corporation (Nasdaq:DCEL), announced today that it has agreed to purchase Highland Cellular LLC, which provides cellular wireless service to southern West Virginia and two adjacent counties in Virginia. The market is primarily south of markets that Dobson owns and operates in West Virginia, southern Ohio and Pennsylvania, and western Maryland.
The $95 million purchase is subject to customary closing conditions and approval by the Federal Communications Commission, which Dobson expects to gain in the second half of 2006.
Highland serves approximately 51,000 subscribers, and its market has a population of approximately 352,000, which will nearly double Dobson's market population in West Virginia. The purchase includes 25 MHz of 850 MHz spectrum over West Virginia 7 RSA, McDowell and Wyoming counties in WV 6 RSA, and Bland and Tazewell counties in Virginia 2 RSA. Beckley and Bluefield are the two largest cities in the region, which also includes the southern portion of the Monongahela National Forest.
Highland has been operating its markets since 1991 under the brand name of Cellular One(R), the brand name owned and used by Dobson Communications. Highland provides GSM, TDMA and analog wireless service on a network that includes 75 cell sites, eight of which are company-owned.
Highland also owns PCS spectrum over West Virginia 5 RSA, McDowell and Wyoming counties in WV 6 RSA, most of WV 7 RSA, and six additional, adjacent counties in Virginia.
Dobson Communications Corp. (Nasdaq: DCEL)
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