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 Lumos Networks

Lumos Networks is a leading fiber-based service provider in the Mid-Atlantic region serving Carrier, Enterprise and Data Center customers, offering end-to-end connectivity in 26 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 11,028 fiber route miles and 517,244 total fiber strand miles, Lumos Networks connects 1,310 unique Fiber to the Cell sites, 1,684 total FTTC connections, 2,230 on-net buildings and approximately 3,500 total on-net locations. The Company also connects 44 total data centers, including three data centers acquired from DC74 (now named Lumos Data Centers), two acquired from Clarity Communications and seven company owned co-location facilities. In 2016, Lumos Networks generated over $123 million in Data revenue over our fiber network. Detailed information about Lumos Networks is available at www.lumosnetworks.com.

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