TDS Telecom announced on June 4 that it will transfer two Virginian incumbent local exchange carriers (ILECs)—Amelia Telephone Corporation and New Castle Telephone Company—to RiverStreet Management Services, LLC.
RiverStreet, a Wilkes Telephone Membership Corporation subsidy, entered into the stock purchase agreement with TDS on May 31. The deal will also see the transfer of eight local TDS field service associates transfer to RiverStreet, and is expected to close sometime in third quarter 2024.
Jim Butman, president and CEO of TDS Telecom, said in a press release, “With Wilkes’ strong reputation and commitment to customer service, we are confident our customers and associates are in good hands. We want to thank our dedicated associates and will work with them on a smooth transition to new ownership.”
RiverStreet Networks operates in five states, primarily North Carolina and Virginia.
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