SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Intermedia Communications ICIX
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Kingpin who wrote (83)2/12/1998 12:18:00 AM
From: SteveG  Read Replies (1) of 313
 
<A> Intermedia/Natl Telecom Buy -2: Seen Closing In 2Q

TAMPA, Fla. (Dow Jones)--Intermedia Communications Inc. (ICIX) signed a definitive agreement to acquire privately held National Telecommunications of Florida for about $151 million in stock and cash.

In a press release Wednesday, Intermedia said the purchase price consists of a combination of $45 million in cash and about $106 million in Intermedia common stock, or about 1.7 million shares.

Closing of the acquisition, which is subject to customary conditions including the receipt of required regulatory approvals, is expected during the second quarter.

Should the acquisition of National and the pending Shared Technologies Fairchild and LDS acquisitions be completed, Intermedia would have pro forma annualized third-quarter 1997 revenue of about $642 million and about $3 million pro forma annualized third-quarter 1997 EBITDA, before considering any synergies.

For the third quarter ended Sept. 30, 1997, Intermedia reported an operating loss of $100.3 million, or $6.82 a share, on revenues of $71.2 million and EBITDA of $13.3 million.

National Telecommunications is a switch-based competitive local exchange carrier and interexchange carrier that reported third quarter 1997 revenue of about $63 million and annualized third quarter 1997 EBITDA of about $6 million.

Intermedia is a competitive local exchange carrier.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News