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PRICELLULAR WILL ACQUIRE NEW YORK RSA NETWORK

NEW YORK-PriCellular Corp. announced it has entered into an agreement with U.S. Cellular Corp. to acquire the New York-6 rural service area consisting of about 111,000 pops in Greene and Columbia counties between Albany and New York City. The RSA was acquired for $178 per pop, or about a 13 multiple of cash flow, PriCellular said.

PriCellular said it will operate the property under the Cellular One service mark and will participate in the North American cellular network. The acquisition is subject to approval by the Federal Communications Commission and others.

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