February 14, 2003 — (WEB HOST INDUSTRY REVIEW) — Communication service provider CenturyTel Inc. (CenturyTel.com) announced on Thursday that a federal bankruptcy court has approved the company’s $38 million bid to acquire the assets of regional fiber optics communications company Digital Teleport Inc. (DigitalTeleport.com).
Under the temrs of the asset sale, approved Thursday by Judge Barry S. Schermer of the U.S. Bankruptcy Court for the Eastern District of Missouri in St. Louis, CenturyTel will assume all existing contracts with customers and most of those with suppliers.
“This acquisition is a natural extension of our clustering strategy in rural and small-to-mid-sized city markets,” said Glen F. Post, III, chairman and CEO of CenturyTel. “Digital Teleport’s regional fiber network will help CenturyTel reduce or eliminate existing network costs from other transport providers and pursue additional revenue opportunities.”
