Blue Sky Communications Sells PCS Business To Clearshot Affiliate

New York, NY

Waller Capital announced the June 2001 closing of the sale of PCS licenses from a subsidiary of Blue Sky Communications to Key Communications, an affiliate of Clearshot Communications. The licenses cover 1.2 million POPs in southern West Virginia. Waller Capital advised Blue Sky Communications on the sale.

The sale is a continuation of a successful Year 2000 where Waller Capital completed over 20 transactions in the cable, wireless, telephony and internet sectors. In addition to Blue Sky advisory role, highlights from the past year include advising Centennial Communications in the sale of certain cellular licenses to Western Wireless for over $200 million and representing GS Communications in its sale of approximately 125,000 cable subscribers to Adelphia Communications.

For more information contact:
Garrett M. Baker
Vice President
Waller Capital Corporation
(212) 632-3600