Iowa Telecom to Purchase Minnesota Based Bishop Communications Corporation

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Iowa Telecommunications Services, Inc
NYSE: IWA
Bishop Communications
Telecom
Mergers & Acquisitions

February 7, 2008
Iowa Telecom to Purchase Minnesota Based Bishop Communications Corporation Feb 7 - NEWTON, Iowa--Iowa Telecommunications Services, Inc. will acquire Bishop Communications Corporation for $43.9 million. Bishop Communications is a privately held holding company with 12,000 ILEC access lines, 5,100 CLEC lines, 4,300 data customers and 3,600 video customers. For fiscal 2007, Bishop generated revenues of $19.5 million and EBITDA of $5.8 million.
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