OKLAHOMA CITY, Dec. 10, 2001 (PRIMEZONE) -- Dobson Communications Corporation (Nasdaq:DCEL) has signed a definitive agreement to sell its 75% ownership interest in a wireless system operating in the Arizona #5 Rural Service Area (RSA) to Verizon Wireless for approximately $85 million. The transaction is expected to close in the first quarter of 2002.
The wireless system is adjacent to Verizon Wireless operations in Phoenix and Tucson, AZ, and serves as a major "roaming" market for Verizon Wireless customers. The market POPS (population) served by the system total about 200,000.
The remaining 25% partnership interest is held by Gila River Telecommunications, Inc. Additional terms were not disclosed. Completion of the transaction is subject to customary closing conditions and approvals by regulatory agencies.
In early November, Dobson and Verizon Wireless announced the signing of definitive agreements to sell four operations in California, Georgia, Ohio and Tennessee to Verizon Wireless for approximately $465 million, which includes $202 million for Tennessee RSA #4. TN RSA #4 is the property of a joint venture that is equally owned by Dobson and AT&T Wireless (NYSE:AWE).
About Dobson Communications
Dobson Communications is a leading provider of wireless phone services to rural markets in the United States. Headquartered in Oklahoma City, the Company owns or manages wireless operations in 19 states. Dobson has expanded rapidly in recent years through internal growth and by acquisition. For additional information on the Company and its operations, please visit its Web site at www.dobson.net
About Verizon Wireless
Verizon Wireless is the largest wireless communications provider in the U.S. with more than 28 million wireless voice and data customers. The coast-to-coast wireless provider was formed by the combination of the U.S. wireless businesses of Verizon Communications (NYSE:VZ) and Vodafone (NYSE:VOD) (LSE:VOD), including Bell Atlantic Mobile, AirTouch Cellular, GTE Wireless and PrimeCo Personal Communications. Verizon Wireless has a footprint covering more than 90 percent of the U.S. population, 49 of the top 50 and 97 of the top 100 U.S. markets. The company, headquartered in Bedminster, NJ, is 40,000 employees strong. Reporters and editors can find more information about the company on the Web at http://www.verizonwireless.com.