OKLAHOMA CITY, Nov. 14, 2001 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) announced today during its regularly scheduled quarterly earnings conference call that, due to declining industry valuations over the past 60 days and declining conditions in bank and capital markets, it is no longer considering a transaction that would involve a change of control at the Company.
Given the current economic climate, its recent strength of operations and the strategic nature of its markets, the Company said it believes that all its shareholders will be best served by the Company taking the potential sale off the table. Dobson continues to explore strategic options that do not constitute a change of control, with the goal of maximizing shareholder value.
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the rapidly growing Company owns or manages wireless operations in 19 states. For additional information on the Company and its operations, please visit its Web site at www.dobson.net.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These include, but are not limited to, statements regarding the Company's plans, intentions and expectations. Such statements are inherently subject to a variety of risks and uncertainties that could cause actual results to differ materially from those projected. These risks include, but are not limited to, increased levels of competition, shortages of key equipment, restrictions on the Company's ability to finance its growth and other factors. A more extensive discussion of the risk factors that could impact these areas and the Company's overall business and financial performance can be found in the Company's reports filed with the Securities and Exchange Commission. Given these concerns, investors and analysts should not place undue reliance on forward-looking statements.