GREENVILLE, S.C.-Dial Page Inc. has closed the sale of its paging business to MobileMedia Corp. for $188.5 million consisting of cash and the assumption of Dial Page’s $85 million in senior notes.
MobileMedia gains about 365,000 pagers in service in seven southern states through the purchase. Dial Page repaid its outstanding paging credit facility of $42.2 million and will use the net proceeds in its specialized mobile radio business.
Dial Page, through its wholly owned subsidiary, Dial Call Communications Inc., has 61,000 analog SMR dispatch units in service. The remainder of the company will be merged with Nextel Communications Inc., which is building a digital SMR network nationwide.