AT&T To buy Centennial

FORT WAYNE, Ind. (WANE) - AT&T is buying Centennial Communications, which has a headquarters in Fort Wayne.

AT&T will buy the regional wireless phone company for $944 million in cash.

The deal was reported Friday evening on websites of the Fox Business Channel, the New York Times, and the Wall Street Journal.

Newschannel 15 spoke with Chris Bauer, a representative of AT & T, who confirmed the deal but was not allowed to reveal any further details.

Newschannel 15 also tried to contact Centennial, but has been unsuccessful.

It's unclear how this deal might affect Centennial's Fort Wayne facilities.

"We think we've served Fort Wayne well over the years and we epxect to do that for many more," said Centennial CEO Michael Small in May of 2008.

That's when he announced dozens of new jobs coming to Fort Wayne.

"We compete against some of the largest companies in the world successfuly by being local," Small said in May.

But it's a blur as to what's next.  The 20-year-old company could soon be swallowed up by communications giant  AT&T.  Officials say customers shouldn't notice any difference.. at least in the short term.

"There is no change to anything.. any service.. any issues with our customers.  We will continue to service them as we have," spokesperson Centennial spokesperson Phil Laux said Saturday.

The deal is expected to close early next year.  Centennial has nearly 1 million wireless customers.. and has a headquarters in Fort Wayne.

"When the transaction closes, then it will be part of AT&T.  That means it will be up to AT&T to decide if it will drop the Centennial name.  AT&T will also determine what happens with Centennial's Summit City headquarters.. which is currently getting all decked out for Christmas.

"The important thing is, from a community standpoint, is that Centennial is still running Centennial's business.  These things take five to six months to close," Laux said.

Again:  Centennial stresses that no changes will be coming until after the deal closes, which could be next spring.  AT&T is expected to pay just under one billion dollars for Centennial Communications.