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SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: October 30, 1997
TELEPORT COMMUNICATIONS GROUP INC.
0-20913
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(Commission File Number)
13-3173139
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(IRS Employer Identification Number)
Delaware
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State of Incorporation
437 Ridge Road, Executive Building 3, Dayton, New Jersey, 08810
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(Address of principal executive offices)
(732) 392-2000
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(Registrant's telephone number, including area code)
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ITEM 2 ACQUISITION OF ASSETS
The Registrant Issued The Following Press Release on October 30, 1997
TELEPORT COMMUNICATIONS GROUP COMPLETES ACQUISITION OF BIZTEL COMMUNICATIONS
WHICH HAS 38 GHZ LICENSES FOR MORE THAN 200 MARKETS NATIONWIDE
NEW YORK, NY - Teleport Communications Group Inc. (TCG/TCGI: NASDAQ) today
announced that it has completed the acquisition of BizTel Communications, Inc.
which holds Federal Communications Commission (FCC) licenses to provide 38 GHz
broadband, point-to-point wireless links in more than 200 markets nationwide,
including 95 of the nation's largest 100 markets.
TCG announced earlier this year its intention to exercise its option to acquire
the 50.1 percent equity interest in BizTel not owned by the company in exchange
for 1,667,631 shares of TCG Class A common stock.
"BizTel can connect customers to TCG's fiber optic networks, provide `diverse'
routing for network redundancy, or offer stand-alone services in special
applications," said Kevin Lynch, TCG's Vice President, Broadband Wireless
Services. "BizTel offers distinct competitive advantages to a broad range of
customers including local governments, universities and educational
institutions, private and public-sector campus environments, and private
networks."
Lynch said that the combination of TCG's traditional broadband fiber optic
networks with its broadband wireless facilities gives TCG a "unique arsenal" of
competitive local facilities that makes TCG the least dependent of any other
Competitive Local Exchange Carrier (CLEC) on the facilities and services of
TCG's primary competitors, the Incumbent Local Exchange Carriers.
"TCG now can address more customers with its own facilities to provide improved
installation intervals and quality," he said.
BizTel's 38 GHz licenses reach 48 states and cover a population of more than 200
million.
TCG is the nation's largest Competitive Local Exchange Carrier, serving
information-intensive businesses in 57 major markets with local, long distance,
enhanced data and Internet services. Eight additional TCG networks are under
construction.
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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 authorized.
TELEPORT COMMUNICATIONS GROUP INC.
/s/ Maria Terranova-Evans
Dated: November 4, 1997 By: __________________________
Name: Maria Terranova-Evans
Title: Vice President and Controller
(Principal Accounting Officer)
