SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report July 9, 1999
(Date of earliest event reported) (July 7, 1999)
CTC COMMUNICATIONS CORP.
(Exact name of registrant as specified in its charter)
Massachusetts 0-13627 04-2731202
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
220 Bear Hill Rd., Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 466-8080
(Registrant's telephone number including area code)
(Former name or former address if changed since last
report)
Item 5. Other Events
On July 7, 1999, the Registrant issued the following press release:
"CTC Communications and Bell Atlantic Sign Major Resale Agreement
NEW YORK, July 7 -- Bell Atlantic (NYSE: BEL) and CTC Communications Corp.
(Nasdaq: CPTL) have signed the largest resale contract entered into by Bell
Atlantic and a wholesale customer.
Under the five-year contract, CTC, a telecommunications reseller serving
businesses, has agreed to resell a minimum of 225,000 Bell Atlantic local
telephone lines in return for additional discounts on Bell Atlantic's
wholesale rates.
As part of the agreement, Bell Atlantic will give CTC discounts up to 15
percent above the required wholesale rate in 12 states in Bell Atlantic's
region. The contract covers the New England states as well as New York, New
Jersey, Pennsylvania, Delaware, Maryland and Virginia.
"CTC is very pleased with this agreement and looks forward to a long and
continued business relationship with Bell Atlantic," said Bob Fabbricatore,
chairman and chief executive officer of CTC. "This agreement will ensure the
continued availability of quality local products for our customers as well as
provide higher margins."
Fabbricatore said the additional Bell Atlantic discount will be available to
CTC this quarter.
"This commitment to Bell Atlantic in our new contract is consistent with
CTC's Integrated Communication Network plans," said Fabbricatore.
In May, Bell Atlantic introduced a wholesale term and volume purchase plan
for companies seeking to provide telecommunications services in the Bell
Atlantic region. The contract with CTC brings the total number of lines
wholesale providers have agreed to resell under the new plan to 425,000.
"For the past four years, we have intently focused on building a vigorous
wholesale business and becoming a leading wholesale provider," said Jack
Goldberg, president of Bell Atlantic Telecom Industry Services. "We are well
on our way. This latest and largest resale contract underscores the growing
interest in reselling Bell Atlantic's network and services.
"We look forward to working with CTC on this agreement and will continue our
efforts to promote competition in the industry," said Goldberg.
About CTC Communications
CTC is a rapidly growing provider of integrated communications solutions to
medium and larger-size business customers in the Northeast U.S. It provides
an extensive array of voice and data services including local, long distance,
frame relay, Internet access and other advanced data services. The company
markets its services through its 263 member sales and service representatives
located in 25 branch offices throughout Maine, New Hampshire, Vermont,
Massachusetts, Rhode Island, Connecticut, New York and Maryland. Company
headquarters are in Waltham, Massachusetts and CTC can be found on the
worldwide web at http://www.ctcnet.com.
About Bell Atlantic
Bell Atlantic is at the forefront of the new communications and information
industry. With 43 million telephone access lines and nine million wireless
customers worldwide, Bell Atlantic companies are premier providers of
advanced wireline voice and data services, market leaders in wireless
services and the world's largest publishers of directory information. Bell
Atlantic companies are also among the world's largest investors in high-
growth global communications markets, with operations and investments in 23
countries.
The statements in this press release that relate to future plans, events or
performance are forward-looking statements that involve risk and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements. Readers are, accordingly,
cautioned not to place undue reliance on these forward-looking statements,
which speak only as to the date hereof. Additional information about these
risks and uncertainties is set forth in the CTC's most recent report on Form
10-K. CTC undertakes no obligation to release publicly the results of any
revisions to these forward-looking statements that may be made to reflect
results, events or circumstances after the date hereof.
INTERNET USERS: Bell Atlantic news releases, executive speeches, news media
contacts and other useful information are available at Bell Atlantic's News
Center on the World Wide Web (http://www.ba.com). To receive news releases by
email, visit the News Center and register for personalized automatic delivery
of Bell Atlantic news releases.
/CONTACT: John D. Pittenger of CTC Communications Corp., 781-466-1302, or
pitt@ctcnet.com; or Maureen Flanagan of Bell Atlantic, 212-395-3519, or
maureen.e.flanagan@bellatlantic.com/"
Reference is made to the exhibit filed herewith for all of the terms
and conditions of the referenced agreement between CTC and Bell
Atlantic.
Item 7c. Exhibits
10.1 Amendment to Resale Agreements dated as of July 1, 1999, between New
York Telephone Company, d/b/a Bell Atlantic - Connecticut and Bell
Atlantic - New York, respectively, New England Telephone and Telegraph
Company, d/b/a Bell Atlantic - Maine, Bell Atlantic - Massachusetts,
Bell Atlantic - New Hampshire, Bell Atlantic - Rhode Island and Bell
Atlantic - Vermont, respectively, Bell Atlantic - Delaware, Inc., Bell
Atlantic - Maryland, Inc., Bell Atlantic - New Jersey, Inc., Bell-
Atlantic - Pennsylvania, Inc. and Bell Atlantic - Virginia, Inc.; and
the Registrant.
SIGNATURES
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 hereunto duly authorized.
CTC COMMUNICATIONS CORP.
(Registrant)
By: /s/ John D. Pittenger
John D. Pittenger,
Executive Vice President,
Finance and Administration
July 9, 1999