UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 29, 1995
CENTURY TELEPHONE ENTERPRISES, INC.
(Exact name of registrant as specified in its charter)
Louisiana 1-7784 72-0651161
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification No.)
incorporation)
100 Century Park Drive, Monroe, Louisiana 71203
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (318) 388-9500
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Item 5. Other Events
The following press release was issued by Century Telephone Enterprises,
Inc. on November 29, 1995:
CENTURY TELEPHONE ENTERPRISES, INC.
NEWS RELEASE
FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT:
November 29, 1995 R. Stewart Ewing, Jr. 318-388-9500
Century Telephone Enterprises, Inc. makes $20 Million Investment in GO
Communications Corporation
Monroe, LA, . . . . Century Telephone Enterprises, Inc. (NYSE symbol: CTL) and
GO Communications announced today that Century has invested $20 million in GO
Communications Corporation in exchange for a minority equity interest. The
companies expect to enter into additional agreements under which Century would
provide certain operational and management services, subject to shareholder
approval.
Glen F. Post, III, president and chief executive officer of Century, said: "We
view our relationship with GO as an excellent opportunity to penetrate several
of the largest markets in the United States while minimizing our risk. GO has a
clear plan to differentiate itself from the competition and provide a
first-class combination of local, long distance and mobile services over its PCS
infrastructure. We look forward to participating in this exciting endeavor."
Steven A. Zecola, president and chief executive officer of GO Communications,
added: "We are pleased to add Century to our team of investors. GO is well
positioned to achieve a minimum of 25 million POPs (population equivalents) at
the upcoming PCS entrepreneurs auction, and our objective is to obtain markets
that will enable GO to help complete a nationwide network of PCS operators who
have selected PCS 1900 technology. After the auction, we look forward to
competing against the established industry players with the help of our
strategic investors."
An auction for two comparable 30 MHz licenses in each region of the country held
earlier this year raised $7.7 billion for the U. S. Treasury. The largest
winners of that auction, AT&T, Sprint and PCS Primeco, received their licenses
in June. The long-awaited entrepreneurs auction has been delayed on three
separate occasions by court challenges filed by existing wireless licensees. On
October 30, the Supreme Court cleared the way for the FCC to begin the
entrepreneurs auction, which is currently slated to begin December 18.
Founded in February 1994, GO has raised more than $100 million in equity
capital. In addition to Century, the company has completed equity financing with
ALLTEL, Fidelity Capital, Mitsubishi, Nissho Iwai and other investors primarily
through a private placement offering as to which Prudential Securities has acted
as placement agent.
Century Telephone Enterprises, Inc., headquartered in Monroe, Louisiana, is a
diversified telecommunications company. Century is the 16th largest local
exchange telephone company, based on access lines, and the 17th largest cellular
company, based on population equivalents owned, in the United States.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CENTURY TELEPHONE ENTERPRISES, INC.
By: /s/ Murray H. Greer
----------------------
Murray H. Greer
Controller
Date: November 29, 1995
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