Iowa Telecom buys Bishop in rural play

Iowa Telecommunications Services is expanding its reach by acquiring Bishop Communications Corp., a rural telephone company based in Annandale, Minn., for $43.9 million. Bishop operates about 12,000 local lines and 5,100 CLEC lines in Minnesota, and has about 3,600 video customers.

The smaller end of the independent telco spectrum has proved to be an active consolidation arena of late, with companies like Roseville, Calif.-based SureWest Communications, Rock Hill, N.C.-based Comporium Communications and now Iowa Telecom making acquisitions.

For more:
- check out this Associated Press story at CNN Money

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