Madison River Communications Is Being Sold For $830 Million

Madison River Communications, a telecommunications provider based in Mebane, is being sold.

CenturyTel, which is based in Monroe, La., said Monday morning it would acquire Madison River in a deal worth $830 million.

Madison River, which includes the local telecommunications provider known as MebTel, operates three other local rural exchange carriers and has an extensive fiber optic backbone.

The deal includes cash for Madison River shares and assumption of Madison River dept.

Mebtel has operates and offers service in North Carolina, Alabama, Illinois and Georgia.

The company has approximately 150 employees in Mebane and more than 600 overall.