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:
August 31, 2000
(Date of earliest event reported)
CITIZENS COMMUNICATIONS COMPANY
(Exact name of Registrant as specified in charter)
Delaware 001-11001 06-0619596
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
3 High Ridge Park, P.O. Box 3801, Stamford, Connecticut 06905
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(Address of principal executive offices) (Zip Code)
(203) 614-5600
(Registrant's telephone number, including area code)
No change since last report
(Former name or address, if changed since last report)
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Item 2. Acquisition or Disposition of Assets.
On June 30, 2000 and August 31, 2000, Citizens Communications completed the
purchase of approximately 61,000 and 133,000 telephone access lines in Nebraska
and Minnesota, respectively, from GTE Corp. (now Verizion Communications). The
consideration for the Nebraska asset purchase totaled $205.4 million and the
consideration for the Minnesota asset purchase totaled $432.7 million. The
purchase price for each of these purchases was determined as a result of an
arm's length negotiation between the parties. These amounts are subject to
purchase price adjustments as defined in the asset purchase agreements for these
transactions which were filed as exhibits to our Annual Report on Form 10-K for
the year ended December 31, 1999. The aggregate consideration for these
acquisitions constitutes a significant amount of Citizens Communications'
assets. Citizens Communications funded these purchases with proceeds from
commercial paper issuances and the liquidation of a portion of its investment
portfolio. Citizens Communications intends to file the required financial
statements not later than 60 days after the date hereof.
Item 7. Financial Statements, Exhibits.
(c) Exhibits
99.1 Press release of Citizens Communications Company
released June 30, 2000 announcing the closing of the
of the Nebraska asset purchase from GTE Corp. (now
Verizon Communications).
99.2 Press release of Citizens Communications Company
released September 5, 2000 announcing the closing of the
of the Minnesota asset purchase from GTE Corp. (now
Verizon Communications).
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SIGNATURES
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 hereunto duly authorized.
CITIZENS COMMUNICATIONS COMPANY
Registrant
By:/s/ Robert J. Larson
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Robert J. Larson
Vice President and Chief Accounting Officer
Date: September 15, 2000
