|
|
Article: U.S. Long Distance Board of Directors Approves Spin-Off of Billing Management and Information Services Business.
- Article from:
- Business Wire
- Article date:
- May 14, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SAN ANTONIO--(BUSINESS WIRE)--May 14, 1996--U.S. Long Distance Corp. (NASDAQ/NMS: USLD) today announced that its Board of Directors approved a plan to spin-off its billing clearinghouse and information management services business to stockholders by way of a special dividend. U.S. Long Distance has formed a new corporation, Billing Information Concepts Corp., which will operate the billing business through its Zero Plus Dialing, Inc. and Enhanced Services Billing, Inc. subsidiaries. Stockholders of U.S. Long Distance will receive one share of Billing Information Concepts for each share of U.S. Long Distance owned on a record date to be determined by the Board. Subsequent ...