Sunday, March 15, 2009

Datanet sale will close on April 1 - syracuse.com

A small Downstate telephone company made a deal Wednesday in bankruptcy court to buy what remains of USA Datanet for $1.25 million.The sale, which is scheduled to close April 1, will yield little money for USA Datanet's unsecured creditors, but it will keep phone and Internet service connected for its 170 remaining customers, most of whom operate small and medium-sized businesses in Central New York.Warwick Valley Telephone Co., a 107-year-old company with about 20,000 customers in mostly rural areas of Orange County and nearby northern New Jersey, emerged as the winning bidder after a day of negotiations at U.S. Bankruptcy Court in Syracuse.
Datanet sale will close on April 1 - syracuse.com

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