The One to Count On...

Iowa Telecom Purchased for $1.1 Billion

Posted: Tuesday, November 24th, 2009 at 11:56 am

An Arkansas-based broadband and telecommunications company has entered into an agreement to purchase Newton-based Iowa Telecom. Officials with Iowa Telecom tell KNIA/KRLS News that Windstream Corporation will acquire Iowa Telecom for $1.1 billion. Iowa Telecom officals say the deal with Windstream will continue the company’s commitment to local customer service and shareholder value. The transaction, which included stock transactions and Windstream purchasing close to $600 million of estimated Iowa Telecom debt, is expected to close in mid-2010. Iowa Telecom provides local telephone, TV and internet service to mostly rural customers across the state. KNIA/KRLS News will bring you more information as soon as it becomes official.