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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): DECEMBER 26, 1997
HICKORY TECH CORPORATION
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(Exact name of registrant as specified in its charter)
MINNESOTA 0-13721 41-1524393
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
221 EAST HICKORY STREET, P.O. BOX 3248, MANKATO, MN 56002-3248
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(Address of principal executive offices) (Zip code)
Registrant's telephone number including area code (800) 326-5789
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ITEM 5. OTHER EVENTS.
On December 18, 1997, the Registrant issued the following press release.
MANKATO, MINNESOTA -- Hickory Tech Corporation (HTC) today announced that it
has signed a definitive agreement to purchase Frontier Corporation's (Frontier)
cellular property (marketed under the Cellular One name) in seven counties of
southern Minnesota. The geography, known in the industry as RSA 10, comprises
Blue Earth, Faribault, Freeborn, Le Sueur, Rice, Steele and Waseca counties.
The population of the serving area is 230,000.
Under the agreement, HTC will purchase all of the stock of Frontier's Minnesota
RSA 10 properties in a cash transaction. The employees currently working for
the Frontier cellular operation in southern Minnesota will become employees of
HTC. Further details of the purchase were not disclosed.
In addition to the current location on Madison Avenue in Mankato, shortly after
the completion of the transaction, customers will be able to arrange for service
at the Mankato Citizens Telephone Company location on Hickory Street, as well as
the present locations in other communities. The transaction requires approval
by the Federal Communications Commission. The transaction is expected to close
by the second quarter of 1998.
Robert D. Alton, HTC's President, CEO and Chairman of the Board said, "The
purchase of Frontier's cellular operation in southern Minnesota adds
significantly to the portfolio of services we offer our customers. Prior to now
we have been involved with wireless services through joint ventures and
partnerships. This purchase affords us the opportunity of 100% ownership of a
cellular company in our existing service territory."
Hickory Tech Corporation is a communications holding company located in Mankato,
MN. HTC has a 99-year history in the local telephone exchange business. From
those roots it has expanded to five business sectors: telephone, billing and
data services, telecommunications product development, equipment sales, and
strategic business development. HTC had $66.5 million in sales in fiscal 1996,
with operations in Minnesota, Iowa and Texas. Its NASDAQ symbol is HTCO. Its
home page address is: http://www.hickorytech.com.
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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.
Date: December 26, 1997
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HICKORY TECH CORPORATION
By /s/ Robert D. Alton, Jr.
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Robert D. Alton, Jr., Chief Executive Officer
By /s/ David A. Christensen
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David A. Christensen, Chief Financial Officer
