Ntelos Holdings Corp. was incorrectly labeled a Sprint Nextel Corp. CDMA affiliate on page 23 of the March 27 issue of RCR Wireless News. Ntelos has a roaming agreement with Sprint Nextel affiliate Horizon PCS Inc., which was recently acquired by iPCS Inc.
The following list includes ratings changes and financial information for wireless companies announced this week by investment-banking and financial-services firms.Click here for wireless ratings from past weeks from RCR Wireless News.CarrierStandard & Poor’s Ratings Services raised its ratings on iPCS Inc., including its corporate...
Regional telecommunications provider Ntelos Holdings Corp. reported plans for an initial public offering of up to 15 million shares of common stock. If approved, the IPO could raise as much as $175 million for the company. According to a Securities and Exchange Commission filing,...
The line of Sprint Corp. wireless affiliates seeking injunctive relief expanded on Friday as iPCS Inc. filed a lawsuit seeking to prevent Sprint from violating its affiliate agreement in relation to its pending acquisition of Nextel Communications Inc. The suit claims that Sprint's pending...
Sprint Corp. wireless affiliate iPCS Inc. reported the closing of its previously announced acquisition of fellow affiliate Horizon PCS Inc. The new operations will use the iPCS name and serve more than 432,000 customers in the Midwest.Timothy Yager will continue in his position as...
CHILLICOTHE, Ohio-Sprint Corp. wireless affiliate Horizon PCS Inc. said it completed an exchange offer for its 11.375-percent senior notes due 2011. The carrier said it received about $120 million in aggregate principal amount of old notes from the offer.Horizon explained that the new notes...
CHILLICOTHE, Ohio-Sprint Corp. wireless affiliate Horizon PCS Inc. said it added 800 customers during the first quarter of this year, which included 2,400 net customer additions and 1,600 customers it sold to Sprint. The growth surpassed the loss of 3,700 customers the carrier posted...
CHILLICOTHE, Ohio-Sprint Corp. provided its consent for the proposed merger of network affiliates Horizon PCS Inc. into iPCS Inc. Sprint's consent was one of the conditions required for the closing of the proposed merger that was originally announced last month. If completed, the merged...
Sprint PCS affiliate iPCS Inc. said it plans to acquire fellow affiliate Horizon PCS Inc., creating the third-largest network affiliate. The deal calls for Horizon shareholders to receive 0.7725 iPCS shares for each Horizon share owned, with iPCS stakeholders owning approximately 57.5 percent of...
2 Sprint PCS affiliates select Nortel for 1x Nortel Networks Ltd. said it has won wireless infrastructure contracts from two carriers, Horizon PCS Inc. and iPCS inc.Under a four-year, estimated $14 million deal, Nortel will replace Horizon's existing CDMA network in Ohio, Indiana and...
DALLAS-Nortel Networks Ltd. said it has won wireless infrastructure contracts from two carriers, Horizon PCS Inc. and iPCS inc.Under a four-year, estimated $14 million deal, Nortel will replace Horizon's existing CDMA network in Ohio, Indiana and Tennessee with 1x for voice and data, according...
Rural telecommunications provider Ntelos Inc. said it has commenced a self-tender offer to repurchase up to 76 percent of its existing equity in relation to a previously announced agreement to be acquired by a pair of venture-capital firms.The self-tender offer calls for Ntelos to...
WAYNESBORO, Va.-Rural telecom and wireless services provider Ntelos Inc. said it has entered into an agreement with affiliates of Quadrangle Capital Partners L.P. and Citigroup Venture Capital that calls for the recapitalization and sale of Ntelos to Quadrangle and CVC. Published reports indicated a...
Rural telecommunications and wireless services provider Ntelos Inc. said it has entered into an agreement with affiliates of Quadrangle Capital Partners LP and Citigroup Venture Capital that calls for the recapitalization and sale of Ntelos to Quadrangle and CVC. Published reports indicated a total...
Fed up with what it said were sluggish negotiations, Sprint network affiliate Alamosa Holdings Inc. took its bid to merge with fellow affiliate AirGate PCS Inc. public in order to score the approval of AirGate's investors. Wall Street appeared to cheer the move, sending...
CHILLICOTHE, Ohio-Sprint PCS affiliate Horizon PCS Inc., which emerged from bankruptcy protection last month, posted $45.7 million in total revenues during the third quarter of this year, which was a 32-percent drop from the $67.2 million the carrier reported during the third quarter of...
COLUMBUS, Ohio-Sprint PCS affiliate Horizon PCS has received court approval for an extension in filing its Chapter 11 reorganization plan and gaining creditor support. The company now has until April 29, 2004, to file its plan and until June 28, 2004, to seek votes...
Sprint PCS affiliate Horizon PCS Inc. has filed a lawsuit against Sprint alleging wrongful conduct in its relationship and business dealings with Horizon.Horizon asserts claims under the federal Racketeer Influenced and Corrupt Organization (RICO) laws and similar Ohio state laws, and asserts fraud, negligent...
Sprint PCS affiliate Horizon PCS said it plans to cut 293 jobs or nearly three-fifths of its work force and close 19 of its 41 retail stores in an attempt to improve its balance sheet, which the company said is being skewed by its...
With the deadline for reporting first-quarter results last week, a number of carriers posted financial and operating results including another strong showing from nationwide provider T-Mobile USA Inc. and mixed results for rural operators.Seeming to be saving the best for last, T-Mobile USA Inc....
A handful of Sprint PCS affiliates reported quarterly results late yesterday with most posting strong revenue growth tempered by increases in net losses and slowing customer growth.Alamosa Holdings Inc. reported an increase in total revenues from $128.4 million during the first quarter of 2002...
CHILLICOTHE, Ohio-Sprint PCS affiliate Horizon PCS Inc. reported $59.2 million in total revenues during the first quarter of 2003 compared with $48.2 million the carrier reported for the first three months of 2002. Net losses applicable to stockholders also increased from $39.6 million last...
CHILLICOTHE, Ohio-Sprint PCS affiliate Horizon PCS Inc. said it has hired investment banking firm Berenson & Company to assist it in renegotiating and restructuring its equity, debt and other contractual obligations after the carrier said it would probably violate one or more covenants under...
NEW YORK-Standard & Poor's Ratings Services cut its corporate credit ratings on Sprint PCS affiliate Horizon PCS Inc. citing concern over limited headroom against execution risks under recently revised bank maintenance covenants and weak liquidity. S&P also reaffirmed its negative outlook for the carrier."Given...
