EX-99.1
2
v114335_ex99-1.htm
Exhbit
No. 99.1
NEWS
RELEASE
FOR
IMMEDIATE RELEASE
Contact:
Ron
Rogers
May
9, 2008
Media
Relations
916-746-3123
r.rogers@surewest.com
SUREWEST
COMMUNICATIONS COMPLETES
SALE
OF WIRELESS ASSETS TO VERIZON WIRELESS
ROSEVILLE,
CA - Leading independent communications holding company SureWest Communications
(Nasdaq: SURW) announced today that it has completed the previously announced
sale of the operating assets of its Wireless business to Verizon Wireless for
an
aggregate cash purchase price of $69.0 million. Under the agreement, Verizon
Wireless is acquiring the spectrum licenses and operating assets of SureWest
Wireless, excluding SureWest's more than 50-owned communication towers. The
company expects to use $30 million of the net cash proceeds of the Wireless
sale
to repay a certain amount of its current outstanding debt facilities and the
remaining balance to continue to fund the expansion of its broadband network.
About
SureWest Communications
SureWest
Communications (www.surewest.com)
is one
of the nation's leading integrated communications providers and is the bandwidth
leader in the markets it serves under the SureWest and Everest brands.
Headquartered in Northern California for more than 90 years, SureWest's bundled
residential and commercial offerings include an array of advanced IP-based
digital video, high-speed Internet, local and long distance telephone, and
wireless PCS. Its fiber-to-the-premise IP-based network features high-definition
video and symmetrical Internet speeds of up to 50 Mbps. In the greater Kansas
City region, Everest (www.everestkc.com)
is a
network-based residential and commercial provider of voice, digital video and
high-speed Internet services.

EX - 99 . 1 2 v114335 _ ex99 - 1 . htm Exhbit No . 99 . 1 NEWS RELEASE FOR IMMEDIATE RELEASE Contact : Ron Rogers May 9 , 2008 Media Relations 916 - 746 - 3123 r.rogers@surewest.com SUREWEST COMMUNICATIONS COMPLETES SALE OF WIRELESS ASSETS TO VERIZON WIRELESS ROSEVILLE , CA - Leading independent communications holding company SureWest Communications ( Nasdaq : SURW ) announced today that it has completed the previously announced sale of the operating assets of its Wireless business to Verizon Wireless for an aggregate cash purchase price of $ 69.0 million . Under the agreement , Verizon Wireless is acquiring the spectrum licenses and operating assets of SureWest Wireless , excluding SureWest 's more than 50 - owned communication towers . The company expects to use $ 30 million of the net cash proceeds of the Wireless sale to repay a certain amount of its current outstanding debt facilities and the remaining balance to continue to fund the expansion of its broadband network . About SureWest Communications SureWest Communications ( www.surewest.com ) is one of the nation 's leading integrated communications providers and is the bandwidth leader in the markets it serves under the SureWest and Everest brands . Headquartered in Northern California for more than 90 years , SureWest ' s bundled residential and commercial offerings include an array of advanced IP - based digital video , high - speed Internet , local and long distance telephone , and wireless PCS . Its fiber - to - the - premise IP - based network features high - definition video and symmetrical Internet speeds of up to 50 Mbps . In the greater Kansas City region , Everest ( www.everestkc.com ) is a network - based residential and commercial provider of voice , digital video and high - speed Internet services .
O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O B-Parties.SELLING_COMPANY I-Parties.SELLING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O O O O O B-Parties.BUYING_COMPANY I-Parties.BUYING_COMPANY O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O