Arch Communications Group Inc. and MobileMedia Communications Inc. reportedly are extremely close to an agreement to merge, said sources close to the talks. Nothing definite had been decided by RCR press time Friday, however.
No timetable has been disclosed as to when such an announcement might be made, but the talks have reached a serious level.
In June, Arch filed an 8-K form with the Securities and Exchange Commission disclosing it was in acquisition talks with MobileMedia, a required admission prior to its senior debt note offering.
Since then, talks have progressed to the point where sources close to the deal believed an Aug. 14 announcement was possible.
A combined MobileMedia/Arch would have about 7.5 million subscribers, surpassing Metrocall Inc. and becoming the second-largest paging carrier in the nation.
MobileMedia has yet to emerge from Chapter 11 bankruptcy protection, which it entered last January. While in Chapter 11, the company is required to consider any transaction that would benefit its creditors, including a merger.
