by Luke Jones
Posted 9/25/2012 01:07 pm
Updated 2 years ago
Ritter Communications of Jonesboro on Tuesday announced it would acquire Millington Telephone Co. Inc. and Millington CATV Inc. of Millington, Tenn.
According to a news release, the monetary details of the acquisition were not disclosed. The purchase is expected to close by the end of this year.
"This venture has strategic significance for Ritter's long-term growth goals," Ritter CEO Dan Hatzenbuehler said in the release. "It increases our customer base, strengthens existing relationships and improves our competitiveness and service offerings."
Ritter provides Internet, phone and cable television to around 25,000 customers in north-central Arkansas. Millington serves about 20,000 customers in four Tennessee counties.
Ritter acquired several local cable television properties in 2005, CableTel of Blytheville in 2008 and the retail division of Optus Inc. of Jonesboro in 2010.