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Verizon Wireless to Purchase Southeastern New Mexico Rural Market
BASKING RIDGE, N.J., Feb. 17, 2012 /PRNewswire/ -- Verizon Wireless announced today it has signed a definitive agreement to purchase wireless operating assets in New Mexico RSA #6 (operated under the brand name Plateau Wireless), owned by E.N.M.R. Telephone Cooperative and its subsidiary Plateau Telecommunications. The purchase will expand Verizon Wireless' brand and network footprint in southeastern New Mexico to the counties of Eddy, Chaves, Lea and a portion of Lincoln that it doesn't already serve. Financial terms are not being disclosed. The transaction is subject to FCC approval and is expected to close in mid-year 2012.
The purchase includes Plateau Wireless' Cellular, PCS and AWS spectrum, customers, and related GSM operations in the southeastern New Mexico market. The licenses and the operating assets being acquired cover a rural population of 259,000 and approximately 26,100 square miles, including state highways US 285, US 54 and US 70. Major population centers include Roswell, Carlsbad, Artesia and Hobbs, New Mexico.
"We look forward to expanding our presence and coverage in rural New Mexico and in welcoming Plateau Wireless' customers to the nation's most reliable network," said Brian Danfield, president of Verizon Wireless' Southwest Region.
Verizon Wireless has invested more than $70 billion - more than $6 billion on average every year - since its inception to increase the coverage and capacity of its premier nationwide network, including the building and rapid expansion of its 4G LTE network which currently is available to more than 200 million people.
E.N.M.R. Telephone Cooperative was advised by RBC Capital Markets, LLC.
About Verizon Wireless
Verizon Wireless operates the nation's largest 4G LTE network and largest, most reliable 3G network. The company serves nearly 108 million total wireless connections, including 92.2 million retail customers. Headquartered in Basking Ridge, N.J., with nearly 82,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, NASDAQ: VZ) and Vodafone (LSE, NASDAQ: VOD). For more information, visit http://www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
About E.N.M.R. Telephone Cooperative and Plateau Telecommunications
Formed in 1949 as Eastern New Mexico Rural Telephone Cooperative, E.N.M.R. Telephone Cooperative and its subsidiary Plateau Telecommunications provide advanced telecommunications services (including 12,000 access lines and over 85,000 Internet and wireless subscribers) in all or parts of 18 counties in eastern New Mexico and 12 counties in the Texas Panhandle. Plateau continues its commitment to expand and strengthen the existing network to meet the rapidly changing demands of its customers and remains focused in the investment in and support of the rural communities served.
SOURCE Verizon Wireless
Verizon Wireless
CONTACT: Robin B. Nicol, +1-908-559-7515, Robin.nicol@verizonwireless.com, or Jenny Weaver, +1-480-763-6321, Jenny.weaver@verizonwireless.com
Web Site: http://www.verizonwireless.com
Verizon Wireless to Purchase Southeastern New Mexico Rural Market
BASKING RIDGE, N.J., Feb. 17, 2012 /PRNewswire/ -- Verizon Wireless announced today it has signed a definitive agreement to purchase wireless operating assets in New Mexico RSA #6 (operated under the brand name Plateau Wireless), owned by E.N.M.R. Telephone Cooperative and its subsidiary Plateau Telecommunications. The purchase will expand Verizon Wireless' brand and network footprint in southeastern New Mexico to the counties of Eddy, Chaves, Lea and a portion of Lincoln that it doesn't already serve. Financial terms are not being disclosed. The transaction is subject to FCC approval and is expected to close in mid-year 2012.
The purchase includes Plateau Wireless' Cellular, PCS and AWS spectrum, customers, and related GSM operations in the southeastern New Mexico market. The licenses and the operating assets being acquired cover a rural population of 259,000 and approximately 26,100 square miles, including state highways US 285, US 54 and US 70. Major population centers include Roswell, Carlsbad, Artesia and Hobbs, New Mexico.
"We look forward to expanding our presence and coverage in rural New Mexico and in welcoming Plateau Wireless' customers to the nation's most reliable network," said Brian Danfield, president of Verizon Wireless' Southwest Region.
Verizon Wireless has invested more than $70 billion - more than $6 billion on average every year - since its inception to increase the coverage and capacity of its premier nationwide network, including the building and rapid expansion of its 4G LTE network which currently is available to more than 200 million people.
E.N.M.R. Telephone Cooperative was advised by RBC Capital Markets, LLC.
About Verizon Wireless
Verizon Wireless operates the nation's largest 4G LTE network and largest, most reliable 3G network. The company serves nearly 108 million total wireless connections, including 92.2 million retail customers. Headquartered in Basking Ridge, N.J., with nearly 82,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE, NASDAQ: VZ) and Vodafone (LSE, NASDAQ: VOD). For more information, visit http://www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at http://www.verizonwireless.com/multimedia.
About E.N.M.R. Telephone Cooperative and Plateau Telecommunications
Formed in 1949 as Eastern New Mexico Rural Telephone Cooperative, E.N.M.R. Telephone Cooperative and its subsidiary Plateau Telecommunications provide advanced telecommunications services (including 12,000 access lines and over 85,000 Internet and wireless subscribers) in all or parts of 18 counties in eastern New Mexico and 12 counties in the Texas Panhandle. Plateau continues its commitment to expand and strengthen the existing network to meet the rapidly changing demands of its customers and remains focused in the investment in and support of the rural communities served.
SOURCE Verizon Wireless
Verizon Wireless
CONTACT: Robin B. Nicol, +1-908-559-7515, Robin.nicol@verizonwireless.com, or Jenny Weaver, +1-480-763-6321, Jenny.weaver@verizonwireless.com
Web Site: http://www.verizonwireless.com