SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 1, 2002
CITIZENS COMMUNICATIONS COMPANY
(Exact name of registrant as specified in its charter)
Delaware 001-11001 06-0619596
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
3 High Ridge Park
Stamford, Connecticut 06905
(Address of Principal Executive Offices)
(203) 614-5600
(Registrant's Telephone Number, Including Area Code)
No Change Since Last Report
---------------------------
(Former name or former address, if changed since last report)
ITEM 5. Other Events.
Citizens Communications today announced the completion of the sale of
its Kauai Electric division to the Kauai Island Utility Cooperative.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CITIZENS COMMUNICATIONS COMPANY
(Registrant)
By: /s/ Robert J. Larson
--------------------------------
Robert J. Larson
Vice President and Chief Accounting Officer
Date: November 5, 2002
Citizens Communications
3 High Ridge Park
Stamford, CT 06905
203.614.5600
Web site: www.czn.net
FOR IMMEDIATE RELEASE
Contacts:
Brigid M. Smith Michael A. Zarrella
Assistant Vice President Vice President
Corporate Communications Corporate Development
203.614.5042 203.614.5179
bsmith@czn.com mzarrell@czn.com
Citizens Communications Completes
Sale of Kauai Electric for $215 Million
Stamford, Conn., Nov. 1, 2002 - Citizens Communications (NYSE: CZN) today
announced the completion of the sale of its Kauai Electric division to the Kauai
Island Utility Cooperative. The purchase price was $215 million in cash.
Citizens Communications will apply the net proceeds from the sale of Kauai
Electric to its on-going program of debt reduction. Through Sept. 30, Citizens
had retired approximately $718 million of its debt during 2002.
About Citizens Communications
Citizens Communications provides telecommunications services to approximately
2.5 million customers in 24 states. More information about Citizens can be found
at www.czn.net.
This document contains forward-looking statements that are subject to risks and
uncertainties that could cause actual results to differ materially from those
expressed or implied in the statements. These and all forward-looking statements
(including oral representations) are only predictions or statements of current
plans that are constantly under review by the company. All forward-looking
statements may differ from actual results because of, but not limited to,
changes in local and national economies, the state of the telecommunications
industry, changes in market conditions for debt and equity securities, the
nature and pace of technological changes, the number and effectiveness of
competitors in the company's markets, success in overall strategy, changes in
legal or regulatory policy, changes in legislation, the mix of products and
services offered in the company's markets, the effects of acquisitions and
dispositions and the ability to effectively integrate businesses acquired. These
important factors should be considered in evaluating any statement contained
herein and/or made by the company or on its behalf. The foregoing information
should be read in conjunction with the company's filings with the U.S.
Securities and Exchange Commission including, but not limited to, reports on
Forms 10-K and 10-Q. The company does not intend to update or revise these
forward-looking statements to reflect the occurrence of future events or
circumstances.
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