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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): September 30, 1997
PACIFIC TELECOM, INC.
(Exact name of registrant as specified in Charter)
State of Washington 0-873 91-0644974
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File No.) Identification No.)
805 Broadway
Vancouver, Washington
(Address of principal 98668-8701
executive offices) (Zip Code)
Registrant's telephone number, including area code: (360)905-5800
No Change
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On September 30, 1997, Pacific Telecom, Inc. (Company) purchased local
exchange assets in Minnesota from US WEST Communications, Inc.
(USWC). There are no affiliated relationships between the Company and
USWC. The assets acquired from USWC represent 32 exchanges which serve
approximately 27,000 access lines, largely in rural Minnesota. The Company
combined these assets with its existing local exchange operations in Minnesota
and began providing telecommunications services to its new customers
immediately after closing. The Company paid approximately $103 million in
cash at closing for these assets. Funds for the purchase were provided mainly
from internally generated funds.
On October 6, 1997, the Company purchased local exchange assets in
Fairbanks, Alaska from the City of Fairbanks (Fairbanks). There are no
affiliated relationships between the Company and Fairbanks. The assets
acquired from Fairbanks represent a single exchange which serves
approximately 38,000 access lines. The Company combined these assets with
its existing local exchange operations in Alaska and began providing
telecommunications services to its new customers immediately after closing.
The Company paid approximately $84 million in cash at closing for the
telecommunications assets in Fairbanks. Additionally, cash in the amount of
$8 million was placed in escrow representing the purchase price for the Alaska
Rural Service Area (RSA) No. 1 A-side license to be paid to Fairbanks upon
receipt of regulatory approvals. Funds for the purchase were provided mainly
through available banking arrangements.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) Exhibits
2 Agreement of Purchase and Sale of Exchanges between US WEST
Communications, Inc., Northland Telephone Company and the
Registrant dated December 15, 1995. (Incorporated by reference to
Exhibit 2 of the Registrant's Annual Report on Form 10-K for the
year ended December 31, 1995, File No. 0-873.)
2C Asset Purchase Agreement by and between the City of Fairbanks and
PTI Communications of Alaska, Inc. dated August 20, 1996.
(Incorporated by reference to Exhibit 2C of the Registrant's Annual
Report on Form 10-K for the year ended December 31, 1995, File No.
0-873.)
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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 hereunto duly authorized.
PACIFIC TELECOM, INC.
(Registrant)
Dated: October 14, 1997 By: /s/James H. Huesgen
-----------------------------
James H. Huesgen
Executive Vice President
and Chief Financial Officer
