FT. MYERS, Fla., Aug. 22 /PRNewswire/ -- Palmer Wireless, Inc.
(Nasdaq: PWIR) today announced that it has reached a definitive agreement to
acquire the Georgia 13 Rural Service Area (RRSAS) cellular telephone license
from Mobile Communications Systems, L.P.
The Georgia 13 RSA license area covers Southwest Georgia, including the
cities of Bainbridge and Thomasville and is adjacent to Palmer's Albany and
Dothan markets. This market contains approximately 145,000 potential
subscribers (pops) and when closed, will expand Palmer's total population
served to over 3.9 million people.
"With over 14,000 current subscribers, high penetration and excellent
cash flow, this market is well suited to Palmer's style of operations,"
commented William J. Ryan, Palmer's President and Chief Executive Officer.
"Consistent with our growth strategy, this is the third acquisition
this year which strengthens and galvanizes the critical mass of our Georgia
cluster. We look forward to closing this transaction sometime during the
first quarter of next year."
Palmer Wireless, headquartered in Ft. Myers, Florida, owns and operates 17
non-wireline cellular telephone systems in Florida, Alabama, Georgia and South
Carolina covering a total estimated population of 3.8 million pops and over
250,000 subscribers. All of the Company's systems are North American
Cellular Network (NACN) and Cellular One affiliates. The Company trades on
the Nasdaq Stock Market under the symbol: PWIR.
SOURCE Palmer Wireless, Inc.
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CONTACT:
Wayne Wisehart or Jeff Green of Palmer
Wireless, Inc., 941-433-8226; or Chris Plunkett or Diana Brainerd
of Brainerd Communicators, Inc., 212-986-6667
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