To the Editor:
Recent letters submitted by RCR readers have questioned MobileMedia’s long-term prospects at a time when the company is actually well on its way to emerging from Chapter 11 as a stronger, healthier company.
Chapter 11 is intended to provide companies with the ability to reorganize finances and operations while maintaining normal business operations. For MobileMedia, Chapter 11 has indeed been such a solution-we have been able to make significant improvements in our operations and finances, and have submitted a plan of reorganization to the bankruptcy court that, if approved, will substantially reduce our debt. We have accomplished this with no interruption in service to our customers and no loss of essential assets, while maintaining one of the highest quality paging networks in the industry. This success is a tremendous tribute to the dedication and commitment of our many fine employees.
During the past year, we have implemented excellent customer service, billing and inventory distribution systems, and have continued to offer our customers the latest technology, including several new products and services. The decision to build out our two-way narrowband PCS networks represents our commitment to ensuring we remain at the forefront of the industry technologically, well into the next century.
As MobileMedia enters the final phase of Chapter 11, we have largely accomplished the goals we set a year ago, to reorganize our finances and operations. We expect to emerge from Chapter 11 later this year with one of the soundest balance sheets in the industry and strong prospects for growth. We are proud to be able to begin building on our strengths and taking advantage of the tremendous potential and promise we believe the wireless industry holds.
Joseph A. Bondi
Chairman, Restructuring
MobileMedia Corp.
Ronald R. Grawert
Chief Executive Officer
MobileMedia Corp.
