UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) August 14, 1998 CENTURY TELEPHONE ENTERPRISES, INC. (Exact name of Registrant as specified in its charter) Louisiana 1-7784 72-0651161 (State or other (Commission file (IRS Employer jurisdiction of number) Identification No.) incorporation) 100 Century Park Drive, Monroe, Louisiana 71203 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code - (318)388-9000 Item 5. Other Events On August 14, 1998, CenturyTel (Century Telephone Enterprises, Inc.) entered into a definitive agreement to sell the stock of its Alaska operations to ALEC Acquisition Corporation for approximately $415 million, subject to certain purchase price adjustments. Net after-tax proceeds from this transaction of slightly less than $300 million will be used to reduce bank debt and to fund CenturyTel's previously announced acquisition of more than 85,000 telephone access lines in Wisconsin from Ameritech. Additional information regarding the Alaska transaction is set forth in CenturyTel's news release which is filed as Exhibit 99.1 hereto. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CENTURY TELEPHONE ENTERPRISES, INC. By: /s/ Murray H. Greer ------------------------- Murray H. Greer Controller (Principal Accounting Officer)