Consolidated Communications
SureWest is a Roseville, CA based telecommunications company, servicing the Greater Sacramento Valley and Kansas City region markets. SureWest was founded in 1914 by William Doyle as the Roseville Telephone Company - SureWest became the official name in 2003. As of late 2000, SureWest's territory had grown to serve (incumbent local exchange carrier) Roseville, CA, Citrus Heights, CA, Granite Bay, CA, Rocklin, CA, and Antelope, CA. With the purchase of the bankrupt WINfirst in 2002, service was extended and continues to grow in (competitive local exchange carrier) Sacramento, CA, Carmichael, CA, Elk Grove, CA, and Lincoln, CA. Services provided are telephone, voice over IP, DSL (15 Mbit/s/1 Mbit/s, 10 Mbit/s/768 kbit/s, 6 Mbit/s/768 kbit/s, 3 Mbit/s/768 kbit/s, 1 Mbit/s/128 kbit/s), FTTH for competitive local exchange carrier areas up to 50 Mbit/s data both ways, IPTV in HD for copper customers with a bonded DSL modem, and IPTV in HD for FTTH customers.
In May, 2004, SureWest Telephone introduced new "unlimited" calling plans for residential and small business customers, which offered significant savings when services are bundled with any combination of high-speed Internet, Digital TV, and Wireless service.[1]
On December 6, 2007, SureWest acquired Everest Communications in Kansas and Missouri.[2] Following the acquisition, SureWest has presence in California, Kansas, and Missouri.
On January 22, 2008, SureWest announced the sale of its wireless network assets and spectrum licenses to Verizon Wireless. The sale closed in the second quarter of 2008.[3]
On April 6, 2009, SureWest launched a weekly 30-minute youth and high school sports program that can be viewed on SureWest digital TV and online.[4]
On February 5, 2012 SureWest was acquired by Consolidated Communications for $23 per share in a combination of cash and stock, a hefty 47% premium above Friday’s close. Including net debt, that puts the total purchase price at about $535M: $340M plus $195M. Consolidated has arranged financing of $350M through Morgan Stanley for the cash portion plus the refinancing of SureWest’s debt.[citation needed]
References
- ^ "SureWest's Unlimited Local and Long Distance Calling Plans Bring Value and Convenience".
- ^ SureWest Communications Reaches Agreement to Acquire Everest Broadband
- ^ Verizon Wireless To Purchase SureWest Communications’ Wireless Assets
- ^ SureWest launches the first television program to highlight Sacramento Region's youth and high school sports