<PAGE>
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 July 7, 1998
TELEPORT COMMUNICATIONS GROUP INC.
(Exact Name of Registrant as specified in its Charter)
Delaware 0-20913 13-3173139
- -------------------------------------------------------------------------
(State or Other Jurisdiction of (Commission (IRS Employer
Incorporation) File Number) Identification No.)
437 Ridge Road, Executive Building 3, Dayton, New Jersey 08810
- -------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's Telephone Number, Including Area Code (732) 392-2000
<PAGE>
ITEM 5 OTHER EVENTS
TCG ACQUIRES ASSETS OF KANSAS CITY FIBERNET;
EXPANDS TELECOM SERVICE INTO KANSAS CITY,
THE 28TH LARGEST MAJOR METROPOLITAN MARKET
DAYTON, NJ -- Teleport Communications Group Inc. (NASDAQ/NM: TCGI) announced
today that it has acquired the assets, customer base and employees of Kansas
City Fiber Network, L.P. (KC FiberNet), a leading competitive local exchange
carrier in the Kansas City metropolitan area.
This acquisition recently received regulatory approval from the Missouri Public
Service Commission as well as from the Kansas Corporation Commission.
The purchase price of the assets and customer base of KC FiberNet is
approximately $55 million in cash. With the additional facilities and customers
from KC FiberNet, TCG's national footprint totals 83 major 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, which currently operates a fiber optic network over 600 route miles
in Kansas and Missouri, connects to more than 225 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 225 on-net buildings as well as customers with revenues which are
currently EBITDA positive."
Teleport Communications Group is the nation's first and largest Competitive
Local Exchange Carrier (CLEC), using both fiber-optic and broadband wireless
service to provide information-intensive businesses with an array of advanced
local and long distance voice, data, video and Internet services. The Kansas
City FiberNet acquisition now brings TCG's operations to 83 major markets. On
January 8, 1998, AT&T and TCG agreed to merge in a transaction that at the close
of business that day was valued at $11.3 billion. The agreement is subject to
state and federal regulatory approval. For more information on TCG, visit the
website at www.tcg.com.
<PAGE>
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.
/s/ Maria Terranova-Evans
Dated: August 4, 1998 By: _____________________________
Name: Maria Terranova-Evans
Title: Vice President and Controller
