Article: American Telecasting, Inc. Announces Expiration of Letter of Intent with CS Wireless Systems, Inc.

COLORADO SPRINGS, Colo., Jan. 13 /PRNewswire/ -- American Telecasting, Inc. (Nasdaq: ATEL) announced today that its letter of intent with CS Wireless Systems, Inc., to exchange certain wireless cable assets had expired. Under the terms of the letter of intent, American Telecasting was to have exchanged the wireless cable markets of Louisville, Kentucky; Little Rock, Arkansas; Oklahoma City, Oklahoma; Wichita, Kansas to CS Wireless for the wireless cable markets of Minneapolis, Minnesota; Bakersfield, California and Stockton/Modesto, California, plus approximately $5.5 million in cash.

Robert D. Hostetler, ATI's President and Chief Executive Officer, stated, ...

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