Ritter Communications to Acquire Millington Telephone and Millington Cable Companies

Transcription

1 FOR IMMEDIATE RELEASE: September 25, 2012 CONTACT: Susan Christian Vice President f Marketing [email protected] Ritter Cmmunicatins t Acquire Millingtn Telephne and Millingtn Cable Cmpanies Ritter Cmmunicatins, a prvider f advanced telecmmunicatins services and bradband technlgies t business and residential custmers in nrtheast and nrth central Arkansas, has entered int definitive agreements t acquire Millingtn Telephne Cmpany, Inc. and Millingtn CATV Inc., Ritter Chairman and CEO Dan Hatzenbuehler annunced tday. The acquisitins are subject t regulatry apprvals and ther custmary cnditins t clsing. Specific details f the agreements were nt disclsed. The clsing date fr the purchases is expected t be by year end, Hatzenbuehler said. We have the greatest respect fr Babe Hward, the Hward family and their accmplishments in this industry and their lng histry, Hatzenbuehler said. Our rts and theirs have cmmn rigins with regard t rural telecmmunicatins, and we lk frward t hnring their service t these cmmunities and building n their accmplishments. We culdn t be happier with the chice f Ritter Cmmunicatins t cntinue ur family s legacy, states the family f Babe Hward. Our father believed in the strength f peple, and Ritter shares the same philsphy, which is evident in their wn success. We believe it s a very gd fit and will prvide great benefits t ur custmers and the cmmunities we serve. Ritter currently serves 25,000 residential and business custmers in mre than 45 cmmunities with phne services, cable TV, high speed Internet and advanced business technlgy slutins. The Millingtn acquisitins represent apprximately 20,000 business and residential custmers in parts f Shelby, Tiptn, Haywd and Fayette cunties in Tennessee. We are excited t extend Ritter s prfessinal expertise with ur Right by Yu values t the cmmunities served by these cmpanies, said Ritter President Chip Dickinsn. Ritter s recrd f excellent custmer satisfactin starts with discvering what lcal cmmunities want, identifying technical capabilities, and applying sphisticated cmmunicatins technlgy t deliver superir fferings, Dickinsn said. Whether it s faster Internet speeds, mre channels, advanced business services, r imprved bundle ptins, we re cmmitted t making ur service cmpetitive, affrdable and dependable, Dickinsn said. Immediately after we assess Millingtn s infrastructure, we will plan and install upgrades t enhance services, fcusing n grwth and the changing demands f custmers. Ritter s way f ding business embdies the values f the entire cmpany, Dickinsn said.

2 As a family-wned and lcally managed prvider f telecmmunicatins services, Ritter is bth accessible and cmmitted t the residents and businesses we serve, Dickinsn said. We are here, Right by Yu, and believe in the pwer f ding what is right fr the custmer and fr the cmmunity, Right by Yu. We recgnize Millingtn s active histry as an imprtant crprate citizen, Hatzenbuehler said. Frm schls t municipal rganizatins t charitable events, we, t, enjy rlling up ur sleeves and getting invlved in the things that matter t ur custmers. Ritter's cmmitment t lcal cmmunities is grunded in ur identity as a fifth-generatin family business, and demnstrated by ur willingness t make lng-term investments in the cmmunicatins infrastructure f nrtheast Arkansas and nw, western Tennessee, Hatzenbuehler said. We strive t be an innvative leader in all the markets we serve, and Millingtn will be n exceptin. --- Abut Ritter Cmmunicatins Ritter Cmmunicatins, funded in Marked Tree and headquartered in Jnesbr, Arkansas, began prviding phne service in nrtheast Arkansas in Ritter s residential and business services include lcal and lng distance phne service, cable televisin and high speed Internet, as well as custmized business cmmunicatins systems and services, including Web and hsting, custm netwrking, virtual services, hsted applicatins and remte data back-up services. Fr mre infrmatin, visit Abut Millingtn Telephne Cmpany, Inc. Millingtn Telephne C. is a privately wned telephne cmpany in peratin since It is a full service cmmunicatins cmpany ffering subscribers in a fur-cunty area a range f vice, data prducts, and services fr residential and business custmers. The cmpany serves fur cunties in west Tennessee, including Tiptn Cunty, which is ne f the fastest grwing areas in the state. Abut Millingtn CATV Inc. Millingtn CATV is a digital cable TV and bradband Internet prvider serving business and residential custmers in nrth Shelby Cunty and suth Tiptn Cunty since ###

3 Ritter Cmmunicatins Cmpany Bigraphy Ritter Cmmunicatins is a whlly-wned subsidiary f E. Ritter & Cmpany, a fifth-generatin family business funded in 1886, which has wned and perated rural telecmmunicatins cmpanies since Tday, Ritter Cmmunicatins wns and perates tw rural lcal exchange carriers (RLECs) in nrtheast and nrth central Arkansas, a cmpetitive lcal exchange carrier (CLEC) and a fiber ptic netwrk in Jnesbr, Arkansas serving primarily business custmers. In 2005, Ritter acquired a number f residential cable TV peratins in nrtheast Arkansas, which it has upgraded t ffer vice, vide and high-speed data services t 35 lcal cmmunities. Ritter s current service area includes a six-cunty area f nrtheast Arkansas, ne cunty in sutheast Missuri and a three-cunty area in nrth central Arkansas, and is in the prcess f develping a fiber netwrk cnsrtium extending acrss nrthern Arkansas. Ritter Cmmunicatins crprate headquarters are lcated in Jnesbr, AR, apprximately 60 miles nrthwest f Memphis, TN and the cmpany currently emplys nearly 200 peple in ffices lcated in Jnesbr, Marked Tree, Blytheville and Harrisn, AR. Business and Residential Services: Ritter prvides lcal businesses a full cmplement f integrated and custmized business cnnectivity slutins and residential custmers enjy the mst advanced, cmpetitive services in nrtheast Arkansas. Lcal and lng distance phne service High speed Internet Cable televisin including digital HDTV Business phne systems sales and supprt Web, and dmain hsting Wide area and special crprate netwrks Virtual private netwrking Remte data backup Virtual servers Hsted applicatins Managed vice services SIP Trunking Metr Ethernet Clcatin Services Principal Officers: Dan Hatzenbuehler, Chief Executive Officer, E. Ritter & Cmpany Chip Dickinsn, Jr., President, E. Ritter & Cmpany Bill Harrisn, Chief Financial Officer, E. Ritter & Cmpany Gregg Smith, Chief Financial & Business Intelligence Officer, Ritter Cmmunicatins David Adams, Chief Operatins Officer, Ritter Cmmunicatins Jdy Craft, Chief Technlgy Officer, Ritter Cmmunicatins Headquarters: Ritter Cmmunicatins 2400 Ritter Drive Jnesbr, AR Additinal Ritter Lcatins: Blytheville Marked Tree Harrisn 646 East Main Street 30 Elm Street 9444 Hwy. 65 S Blytheville, AR Marked Tree, AR Harrisn, AR

4 Fact Sheet/Official Statement regarding Millingtn Acquisitins September 25, 2012 Ritter Cmmunicatins has entered int definitive agreements t purchase Millingtn Telephne Cmpany, Inc. and Millingtn CATV, Inc. bth lcated in Millingtn, TN. Expected clse date f purchase transactins is end f 2012, subject t regulatry apprvals and ther custmary cnditins. Ritter currently serves 25,000 residential and business custmers in 49 cmmunities in nrtheast and nrth central Arkansas with advanced telecmmunicatins services and bradband technlgies, including high-speed Internet, phne services and cable TV. Ritter Cmmunicatins, funded in Marked Tree, AR and headquartered in Jnesbr, AR is a fifth-generatin family business that began prviding telephne service in nrtheast Arkansas in Ritter s business and residential services include: Lcal and lng distance phne service High speed Internet Cable televisin including digital HDTV Business phne systems Web, and dmain hsting Wide area and special crprate netwrks Virtual private netwrking Remte data backup Virtual servers Hsted applicatins Managed vice services SIP Trunking Metr Ethernet Clcatin Services The Millingtn acquisitin represents apprximately 20,000 business and residential custmers in parts f 4 Tennessee cunties: Shelby, Tiptn, Haywd and Fayette. Millingtn Telephne Cmpany, Inc. is a privately wned, family business in peratin since 1928, ffering subscribers full-service cmmunicatins acrss a range f vice, data prducts, and services fr residential and business custmers. Millingtn CATV, Inc. is a digital cable TV and bradband Internet prvider serving business and residential custmers in nrth Shelby Cunty and suth Tiptn Cunty since 1982.

5 Ritter Executive Emplyee Bigraphies Daniel B. (Dan) Hatzenbuehler, Chief Executive Officer, E. Ritter & Cmpany Dan Hatzenbuehler is currently Chairman and CEO f E. Ritter & Cmpany, a fifth generatin family business lcated in nrtheast Arkansas. He has been n the bard f directrs f the cmpany fr ver 30 years and has served in his current psitin fr the past 12 years. Immediately prir t jining E. Ritter in 1998, he was a partner, and member f the Bard f Directrs, f Baker Dnelsn Bearman Caldwell & Berkwitz, cncentrating in crprate, securities and health care law. He is a past president f the Fundatin fr Rural Educatin and Develpment and serves n the Finance and Bylaws Cmmittees f the Organizatin fr the Prmtin and Advancement f Small Telecmmunicatins Cmpanies. Charles R. (Chip) Dickinsn, Jr., President, E. Ritter & Cmpany Chip Dickinsn jined E. Ritter & Cmpany in 2011 as President. He previusly held several psitins with Andersn-Tully Cmpany, a timber management and hardwd lumber cmpany, serving as President since He was with Ernst & Yung fr 14 years befre jining Andersn-Tully. William F. (Bill) Harrisn, Chief Financial Officer, E. Ritter & Cmpany Bill Harrisn jined E. Ritter & Cmpany as Chief Financial Officer in Bill came t Ritter frm Chrdus, Inc., a distributr and marketer f ffice furniture. Prir t Chrdus, Bill was a partner at SSM Partners, a Memphisbased private equity and family business advisry grup. Gregry (Gregg) Smith, Chief Financial & Business Intelligence Officer, Ritter Cmmunicatins Gregg Smith has served as Chief Financial and Business Intelligence Officer (CFBIO) fr Ritter Cmmunicatins since July f 2011 and is respnsible fr financial and peratinal intelligence, billing and marketing fr Ritter Cmmunicatins. Prir t his current rle, Gregg served as Ritter Cmmunicatins Vice President f Business Develpment and was respnsible fr mergers and acquisitins and new revenue pprtunities like twer backhaul and dark fiber. Befre jining Ritter in 2009, Gregg served as Chief Financial Officer fr a small healthcare cmpany and a private equity firm. Prir t that, Gregg served in Cntrller rles fr public and venture backed sftware cmpanies in Atlanta.

6 David A. (David) Adams, Chief Operatins Officer, Ritter Cmmunicatins David Adams is Chief Operatins Officer fr Ritter Cmmunicatins, with perating respnsibility fr its residential, business and whlesale services in nrtheast and nrth central Arkansas. Befre assuming his current rle in January f 2012, David served as Vice President f the nrtheast Arkansas Divisin f Ritter Cmmunicatins. He was respnsible fr all residential and small business services t 49 rural cmmunities, prviding cable TV, Internet access and lcal and lng distance telephne service t ver 18,000 subscribers. David jined E. Ritter and Cmpany as the Directr f Human Resurces, serving three (3) years in that capacity. Prir t jining Ritter, David wrked as a cnsultant fr The Centre Grup, a Memphis-based human resurce cnsulting firm specializing in cmpensatin strategies, executive search, and leadership skills develpment. Jdy (Jdy) Craft, Chief Technlgy Officer, Ritter Cmmunicatins Jdy Craft is the Chief Technlgy Officer fr Ritter Cmmunicatins and is respnsible fr Ritter s verall technical visin and leadership f all Engineering, Netwrk Operatins, and sftware develpment activities. Prir t jining Ritter, Jdy held senir executive psitins at Deutsche Telekm, 360netwrks, Telia, and AGIS. During his 20 year career, Jdy has had extensive experience in reginal, natinal, and internatinal prductin f telecm services.

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