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BASKING RIDGE, NJ — Verizon Wireless announced today it has purchased the operating assets of West Virginia Wireless, owned by Key Communications, LLC and managed by PC Management, Inc., which will expand Verizon Wireless' network footprint into four markets in West Virginia. Financial terms are not being disclosed.
The purchase includes West Virginia Wireless' spectrum licenses and related operations. The acquired licenses cover a population of 1.2 million people, include 22 counties in West Virginia, 5 in Kentucky, 3 in Virginia and 2 in Ohio, and also contain the Interstate 64 and 77 corridors from Ashland, Kentucky, to the Huntington, Charleston, Bluefield and Beckley areas of West Virginia. In addition to the state capital, the coverage area includes The Greenbrier resort in White Sulphur Springs and Marshall University in Huntington.
Verizon Wireless will begin today to serve the acquired West Virginia Wireless customers, using the existing West Virginia Wireless brand name. Over the next 15 months, Verizon Wireless will convert the existing GSM network in phases to a new CDMA network which will have high-speed broadband capability. West Virginia Wireless customers will receive a letter in the next few months explaining their service transition and upgrade options. Until that time, it is not necessary for customers to take any action.
Verizon Wireless has extended employment offers to all West Virginia Wireless employees. At this time, there are no changes planned for the West Virginia Wireless store locations, all of which will remain open to serve customers during the network conversion period. Upon completion of the network conversion, West Virginia Wireless will be re-branded as Verizon Wireless.
Verizon Wireless currently provides service in a portion of the Bluefield market that includes Mercer County in West Virginia and Bland County in Virginia, as well as a portion of the Charleston market that includes Mason, Jackson and Roane counties.
Verizon Wireless has invested more than $35 billion since the company was formed seven years ago on average $5 billion each year to increase the coverage and capacity of its national network and add new capabilities.
About Verizon Wireless
Verizon Wireless operates the nation's most reliable wireless voice and data network, serving more than 59 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, N.J., with 65,000 employees nationwide. The company is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
About Key Communications/PC Management
Key Communications LLC is a closely held group of private equity investors that established West Virginia Wireless in 2002. The investor group includes the principals of PC Management and Key has been managed by PC Management since its inception.
PC Management offers a complete turnkey business management solution designed to provide independent carriers and MVNO companies with management and back office solutions on a shared basis. With over 100 combined years of wireless experience, the professionals at PC Management leverage industry expertise along with entrepreneurial creativity to provide maximum shareholder value.
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