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May 15, 2016

Consolidated Communications Sells Iowa-based Heartland Telecommunications Company to Premier Communications and Winnebago Cooperative

Sioux Center, IA. – May 9, 2016 Consolidated Communications Holdings, Inc. (NASDAQ: CNSL) (“Company”) has entered into a definitive agreement with Mutual Telephone Company of Sioux Center, Iowa (Premier Communications) and Winnebago Cooperative Telecom Association (Winnebago) to divest its Heartland Telecommunications Company of Iowa (Heartland).

“Both Premier and Winnebago are uniquely positioned to provide exceptional service to customers in the rural areas of northwest Iowa,” said Bob Udell, president and chief executive officer of Consolidated Communications. “We expect this transaction will benefit customers, who can count on continued high levels of service and investment in their community from Premier and Winnebago.”

Premier will acquire the Iowa exchanges of:  Akron, Boyden, Doon, Hawarden, Hull, Ireton, Rock Rapids, Rock Valley and Sibley. Winnebago will acquire the Iowa exchanges of Bancroft and Lakota.

“Premier has been, and always will be, committed to offering exceptional voice, video and data services to our customers,” said Doug Boone, Chief Executive Officer of Premier. “The addition of these nine exchanges is a natural fit to our existing service territory and we pledge to serve these new customers with the same cutting-edge technology and great customer service that Premier is known for.”

“This acquisition is a major positive development as it permits our customer-owned company to become even more efficient, while we bring a cooperative’s dedication to exceptional benefits for our communities” said Mark Thoma, Winnebago’s General Manager. “We look forward to serving the customers of Bancroft and Lakota who will become members of our cooperative, with the rights and privileges of owners.”

The Company’s Heartland operation contributed approximately $7.0 million of revenue in fiscal 2015.  The agreement is an all cash transaction valued at approximately $22.5 million, subject to certain contractual adjustments.  The closing is subject to routine regulatory approvals, which are expected to be completed in the second half of 2016.

Charlesmead Advisors, LLC, served as exclusive advisor to Premier and Winnebago on the transaction.

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About Premier Communications of Sioux Center, Iowa

Premier Communications is the leading provider of voice, video and data services in Northwest Iowa. With headquarters in Sioux Center, IA and offices in Sanborn, IA and Le Mars, IA, Premier Communications provides 22 communities with local and long distance digital telephone service, high-speed Internet, cable television programming and iWireless cellular service. For more information visit

About Consolidated Communications

Consolidated Communications Holdings, Inc. is a leading broadband and business communications provider throughout its 11-state service area.  The company leverages its advanced fiber optic network and multiple data centers to offer a wide range of communications solutions, including data, voice, video, managed services, cloud computing and wireless backhaul.  Headquartered in Mattoon, Ill., the Company has been providing services in many of its markets for more than a century. Learn more at

About Winnebago Cooperative Telecom Association

WCTA is a telecommunications company headquartered in Lake Mills, Iowa. Since the Cooperative’s inception in 1950, more than 70 companies have merged into WCTA. Today, WCTA utilizes the latest digital switching and fiber optic technologies to deliver advanced telecommunications service, Internet access, digital TV service, wireless service, computer and data back-up services and long distance service to 25 communities in northern Iowa and southern Minnesota. WCTA strives to be an important part of each and every community we serve. As a cooperative, WCTA is owned and governed by its members and a member-elected Board of Directors.