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Entries from March 1, 2010 - March 31, 2010

Wednesday
Mar312010
DateWednesday, March 31, 2010 at 4:18AM

FairPoint Communications Announces Management Changes

Source: Fairpoint Press Release

FairPoint Communications (NYSE:FRP) has announced that Chief Financial Officer Alfred C. Giammarino, has tendered his resignation for personal reasons, effective immediately. Lisa R. Hood, senior vice president and controller, has been appointed CFO on an interim basis. Giammarino had been CFO since September 2008.

Hood joined FairPoint in 1993 and currently serves as senior vice president and corporate controller. She has responsibility for the corporate accounting department and financial reporting for the company. She is a Certified Public Accountant.

AuthorRyan Elberg | CommentPost a Comment | | | Print ArticlePrint Article
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Monday
Mar292010
DateMonday, March 29, 2010 at 11:33AM

Consolidated Announces Quarterly Dividend

Source: Consolidated Press Release 

The board of directors of Consolidated Communications Holdings, Inc. (Nasdaq:CNSL) has declared a quarterly dividend of $0.38738 per share on the company's common stock. The dividend is payable on May 1, 2010 to stockholders of record at the close of business on April 15, 2010.

AuthorDeborah Rand | CommentPost a Comment | | | Print ArticlePrint Article
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Monday
Mar292010
DateMonday, March 29, 2010 at 6:39AM

Sprint 4G Launches In Houston, Texas

Source: Sprint Press Release

Sprint (NYSE:S) announced the launch of 4G in the Lone Star state's biggest city: Houston. The next generation of wireless, also known as 4G, provides fast mobile downloads, streaming video and Web browsing at turbo-speed and delivers downloads that are faster than any wireless broadband service currently being offered by AT&T, Verizon or T-Mobile.

With this launch, Sprint makes Texas the "biggest 4G state" in terms of the number of people who have access to the Sprint mobile network. In addition to Houston, the 4G network is currently operating in Abilene, Amarillo, Austin, Corpus Christi, Dallas, Fort Worth, Killeen/Temple, Lubbock, Midland/Odessa, San Antonio, Waco and Wichita Falls. Nationwide, Sprint boasts 28 markets that have 4G capability today.

Unlike competitors who are running high-speed mobile broadband trials in laboratories, Sprint is the first national wireless carrier to launch 4G technology. Sprint delivers 4G to consumers and businesses, and Sprint's 4G powered products, such as Overdrive(TM) 3G/4G Mobile Hotspot, USB Modem and USB Mobile Broadband, make any online experience better by enabling users to stream video, download files and browse the Web at download speeds up to 10 times faster than 3G.

AuthorRyan Elberg | CommentPost a Comment | | | Print ArticlePrint Article
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Friday
Mar262010
DateFriday, March 26, 2010 at 6:10AM

HickoryTech Director Starr Kirklin Retires from Board

Source: HickoryTech Press Release

HickoryTech Corporation (Nasdaq:HTCO) announced that Starr Kirklin will retire from its Board of Directors effective at the company’s Annual Meeting to be held on May 11. 

Kirklin has served on the HickoryTech Board since 1989 and has been part of the audit, finance and planning and governance and nominating committees. He served as the Board Chair in 2005 and 2006.  Kirklin, who is age 73, is not eligible to stand for re-election based on the age restrictions of the company’s bylaws and will retire from the Board in May 2010.

“We wish to thank Starr for his many contributions to the board over the past 21 years,” said James Bracke, HickoryTech board chair. “Our company has evolved a great deal over this time, transitioning from a rural phone company to a leading regional fiber and data network provider serving businesses and consumers.”

Kirklin’s director position on the Board will not be filled at this time. The Board believes it can effectively represent shareholders and carry out their responsibilities with a nine-member Board.

AuthorRyan Elberg | CommentPost a Comment | | | Print ArticlePrint Article
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Friday
Mar262010
DateFriday, March 26, 2010 at 3:20AM

Frontier Announces Pricing of $3.2 Billion of Senior Notes

Source: Frontier Press Release

Frontier Communications (NYSE:FTR) announced that New Communications Holdings Inc. ("Spinco"), a subsidiary of Verizon Communications (NYSE:VZ) formed for the purposes of holding defined assets and liabilities of the local exchange business and related landline activities of Verizon in 14 states, has priced $3.2 billion aggregate principal amount of Senior Notes. The gross proceeds of the offering will be deposited into an escrow account. Spinco intends to use the net proceeds from the offering to fund the special cash payment by Spinco to Verizon, in connection with the spin-off of Spinco to Verizon's shareholders and the subsequent merger of Spinco with and into Frontier.

The Senior Notes consist of $500 million aggregate principal amount of Senior Notes due 2015 (the "2015 Notes"), $1.1 billion aggregate principal amount of Senior Notes due 2017 (the "2017 Notes"), $1.1 billion aggregate principal amount of Senior Notes due 2020 (the "2020 Notes") and $500 million aggregate principal amount of Senior Notes due 2022 (the "2022 Notes", and together with the 2015 Notes, the 2017 Notes and the 2020 Notes, the "Notes").

The 2015 Notes will have an interest rate of 7.875% per annum, the 2017 Notes will have an interest rate of 8.25% per annum, the 2020 Notes will have an interest rate of 8.50% per annum and the 2022 Notes will have an interest rate of 8.75% per annum. The Notes will be issued at a price equal to 100% of their face value. The Notes are being sold in a private placement that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

AuthorRyan Elberg | CommentPost a Comment | | | Print ArticlePrint Article
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