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): July 2, 2001
CITIZENS COMMUNICATIONS COMPANY
(Exact name of Registrant as specified in its charter)
Delaware 001-11001 06-0619596
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3 High Ridge Park, P.O. Box 3801
Stamford, Connecticut 06905
(Address of Principal Executive Offices) (Zip Code)
(203) 614-5600
(Registrant's Telephone Number, Including Area Code)
No Change Since Last Report
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(Former name or former address, if changed since last report)
Item 5. Other Events.
Citizens Communications Company announced on July 2, 2001 that it has
completed the sale of its Louisiana Gas operations to Atmos Energy
Corporation for approximately $365 million in cash.
Item 7. Financial Statements, Exhibits
(c) Exhibits
99.1 Press Release of Citizens Communications Company released
July 2, 2001 announcing that it has completed the sale of its
Louisiana Gas operations to Atmos Energy Corporation for approxi-
mately $365 million in cash.
Citizens Communications
3 High Ridge Park
Stamford, CT 06905
203.614.5600
Web site: www.czn.net
Contact: Brigid Smith
A.V.P., Corporate Communications
Citizens Communications
203.614.5042
bsmith@czn.com
CITIZENS COMMUNICATIONS COMPLETES SALE OF LOUISIANA GAS OPERATIONS
TO ATMOS ENERGY CORPORATION
Stamford, Conn., July 2, 2001 - Citizens Communications (NYSE:CZN, CZB)
announced today that it has completed the sale of its Louisiana Gas operations
to Atmos Energy Corporation for approximately $365 million in cash. The
operations provide natural gas transmission and distribution services to 280,000
customers.
The sale of its Louisiana Gas operations is part of Citizens' announced plans to
become a pure-play telecommunications company and to divest its gas, water and
electric utility operations. On June 29, 2001 Citizens Communications completed
its acquisition of Global Crossing's local telephone business, which operates
under the name Frontier Telephone. With this acquisition, Citizens
Communications is one of the largest rural local exchange carriers (RLECs) in
the nation, serving approximately 2.5 million access lines in 24 states.
About Citizens Communications
Citizens Communications serves 2.5 million access lines in 24 states and has
contracted to acquire an additional 600,000 access lines. Citizens owns 85
percent of Electric Lightwave, Inc. (NASDAQ:ELIX), a facilities-based,
integrated communications provider that offers a broad range of services to
telecommunications-intensive businesses throughout the United States. More
information about Citizens can be found at www.czn.net.
This document contains forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied in the statements. These and all forward-looking statements
(including oral representations) are only predictions or statements of current
plans that are constantly under review by the company. All forward-looking
statements may differ from actual results because of, but not limited to,
changes in the local and overall economy, changes in market conditions for debt
and equity securities, the nature and pace of technological changes, the number
and effectiveness of competitors in the company's markets, success in overall
strategy, changes in legal or regulatory policy, changes in legislation, the
company's ability to identify future markets and successfully expand existing
ones, the mix of products and services offered in the company's target markets,
the effects of acquisitions and dispositions and the ability to effectively
integrate businesses acquired. These important factors should be considered in
evaluating any statement contained herein and/or made by the company or on its
behalf. The foregoing information should be read in conjunction with the
company's filings with the U.S. Securities and Exchange Commission including,
but not limited to, reports on Forms 10-K and 10-Q. The company does not intend
to update or revise these forward-looking statements to reflect the occurrence
of future events or circumstances.
Signature
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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 thereunto duly authorized.
CITIZENS COMMUNICATIONS COMPANY
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(Registrant)
By: /s/ Robert J. Larson
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Robert J. Larson
Vice President and Chief Accounting Officer
Date: July 2, 2001