American Cellular Corporation (dba Cellular One) was formed by
Spectrum as a vehicle to acquire and take private PriCellular
Corporation, the fastest growing independent cellular telephone
company in 1996 and 1997. Spectrum led the leveraged buyout,
including arranging all of the debt and equity financing. The
company was acquired by AT&T Wireless (NYSE:T) in February 2000
for $2.3 billion.