SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
Current Report
Pursuant to Section 13 or 15 (d) of the
Securities Exchanges Act of 1934
Date of Report: December 2, 1997
Teleport Communications Group Inc.
(Exact Name of Registrant as specified in its Charter)
Delaware 0-20913 13-3173139
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(State or Other (Commission File Number) (IRS Employer
Jurisdiction of Identification No.)
Incorporation)
437 Ridge Road, Executive Building 3, Dayton, New Jersey 08810
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(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (732) 392-2000
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Item 5. Other Events
TELEPORT COMMUNICATIONS GROUP INC. (TCG) TO ACQUIRE THE ASSETS OF
KANSAS CITY FIBER NETWORK, L.P.; EXPAND INTO KANSAS CITY, THE 28TH
LARGEST MAJOR METROPOLITAN MARKET
Teleport Communications Group Inc. (Nasdaq/NM:TCGI) announced today
that it will acquire the assets and customer base of Kansas City Fiber
Network, L.P. (KC FiberNet), a leading competitive local exchange
carrier in the Kansas City metropolitan area owned by
Tele-Communications Inc. ("TCI") and Time Warner Communications.
With the additional facilities and customers from KC FiberNet, TCG's national
footprint will total 66 major markets, and will include 29 of the top 30
markets.
"We are extremely pleased that the acquisition of the Kansas City facilities
will give us an immediate presence in a key business market," said Bob
Annunziata, Chairman, President and CEO of TCG. "This acquisition also helps
fulfill our strategic goal to be in the top 30 domestic markets."
KC FiberNet currently operates a fiber optic network over 580 route miles in
Kansas and Missouri which connects to more than 200 on-net buildings.
According to Annunziata, "We are constantly evaluating build versus buy
decisions for TCG's networks. This acquisition was a natural choice for TCG
since it allows us to quickly enter into a new market. TCG immediately adds more
than 200 on-net buildings as well as customers with revenues which are currently
EBITDA positive. We expect this acquisition to be immediately accretive to TCG."
This acquisition is subject to approval from regulatory authorities.
TCG is the nation's first and largest provider of competitive local
telecommunications services, using both fiber-optic and broadband wireless
services, for information intensive businesses in 58 major markets, upon the
closing of this acquisition. With the completion of eight new markets, TCG will
serve 66 major markets with an array of advanced voice, data, video and Internet
services. Visit TCG on the World Wide Web at: www.tcg.com.
Certain of the matters discussed in this report may be forward-looking within
the meaning of Section 21E of the Securities Exchange Act of 1934. The
acquisition and integration of KC FiberNet is subject to inherent uncertainties
outside TCG's control, and there can be no assurance that KC FiberNet will
perform in accordance with past results or expectations. Factors that could
adversely effect TCG's integration and operation of KC FiberNet include certain
considerations discussed under the caption "Risk Factors" in TCG's Registration
Statement on Form S-3 (File No. 333-37597).
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has caused this report to be signed on its behalf of the undersigned,
thereunto duly authorized.
TELEPORT COMMUNICATIONS GROUP INC.
Dated: December 10, 1997 By: /s/ Maria Terranova-Evans
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Name: Maria Terranova-Evans
Title: Vice President and Controller
