PRESS RELEASE


 

Media Contact
Will Davis
Senior Vice President of Marketing and Investor Relations
Chief of Staff
(917) 519-6994
davisw@lumosnet.com

 

For immediate release

Wednesday, November 9, 2016
Lumos Networks Working with UBS Investment Bank to Pursue Strategic Alternatives for the Company’s Regulated Assets

WAYNESBORO, Va.--(BUSINESS WIRE)-- Lumos Networks Corp. (“Lumos Networks”) (NASDAQ: LMOS), a leading fiber-based service provider in the mid-Atlantic region today announced that UBS Investment Bank is assisting it in exploring strategic alternatives for the Company’s regulated Local Exchange Carrier (“LEC”) assets.

“During the third quarter, we completed our network separation analysis for our regulated LEC assets,” said Timothy G. Biltz, CEO of Lumos Networks. “Not only did we determine that these LEC network assets can be separated, but we initiated physical separation of these assets during the quarter. We believe that a key component of maximizing shareholder value will be creating optionality with respects our regulated LEC assets as it furthers our publicly stated goal of becoming a pure play fiber bandwidth infrastructure company.”

There can be no assurance that the Company’s review of strategic alternatives for the regulated assets will result in any transaction. The Company does not intend to make further public comments regarding these matters during the strategic review process.

About the Combination of Spirit Communications and Lumos Networks

The combination of Spirit Communications and Lumos Networks creates a super-regional fiber bandwidth network with over 21,000 miles of fiber and more than 9,000 on-net locations across nine states in the Mid-Atlantic and Southeast United States. The new entity offers a full range of Ethernet, MPLS, dark fiber, advanced voice and cloud services to thousands of carrier, enterprise, data center and government customers. The entity also connects 44 total data centers, including 12 co-location and data centers. More information: is available at www.lumosnetworks.com. and www.spiritcom.com.

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Lumos Networks provides fiber internet, voice, and IP connectivity over a dense fiber-based network serving enterprise and carrier customers in areas around and including Roanoake, VA, Richmond, VA, Daleville, VA, Waynesboro, VA, Hampton Roads, VA, Virginia Beach, VA, Lynchburg, VA, Charleston, WV, Huntington, WV, Beckley, WV, Parkersburg, WV, Clarksburg, WV, Morgantown, WV, Wheeling, WV, Pittsburgh, PA, Harrisburg, PA, Altoona, PA, Hagerstown, MD, and Washington, D.C.